TD Ameritrade Clearing, Inc. has agreed to pay the U.S. government $1.5-million to settle civil allegations that the company obtained incorrect postage discounts. The government alleged the company was not entitled to those discounts.
U.S. Attorney Deborah Gilg said that between October 1, 2006 and September 30, 2009, TD Ameritrade’s mailings did not qualify for the discounted First-Class Mail prices that it claimed. The reason for that, the government says, is that the company failed to comply with “Move Update” standards which require mailers to update addresses on their mail with change-of-address information provided to the Postal Service.
In a statement, Gilg said, “Mailers that claim postage discounts for mailings that fail to comply with Move Update standards not only receive discounts to which they are not entitled, but hinder the work the Postal Service does every day to swiftly and accurately deliver the mail. This settlement ensures that Postal Service procedures are protected.”
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