The issue is that the banks have shareholders. Upper management always faces consequences on share price and backlash. TD coming off a record breaking year where it became the largest FI by assets in Canada, now has to try and replicate success. Report a down quarter or year and see share prices drop.
That is where it comes from, the trickle down effect that falls to middle management to "increase volume" then becomes unrealistic sales targets hitting the CSR and account managers.
What TD is doing here is wrong. Unfortunately, the banking industry in Canada is extremely competitive, uneven and leads to this type of practices. Easy to say leave a job in a downturn, but if it means a paycheque for your family or sleeping at night, the decision becomes more difficult for the small guy.
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