That's a really stupid law. TD Bank's been doing amazingly well in New York. Last time I was there, they were ubiquitous. They definitely seem like the best-run Canadian bank (thanks to Red Ed!) but I worry a bit about this "North American bank" business. That sounds like code for "American bank" to me, and I hope that TD's Canadian headquarters doesn't become like Bank of Montreal's Montreal headquarters. It's the kind of thing that only a Canadian bank would say. Though they do business all over the world, HSBC or Barclay's would still call themselves British banks. BNP is still a French bank.