to cut corners and increase their income. In October 2010, Michael Loscalso, a branch manager in West Conshohocken, Pennsylvania who earned $260,000 per year, sued the company after being fired, allegedly for raising serious allegations about the firm’s oversight of brokers. In March 2015, the company paid $27.5 million to settle a lawsuit that it charged its own employees high fees in funds in its 401(k) program. In December 2016, the company settled with the U.S. Department of Labor, agreeing to pay $128,200 in back wages for discriminating against 20 black employees by paying them less than similarly situated white workers. In February 2018, the company paid $230,000 to settle allegations by the U.S. Securities and Exchange Commission that it put customers into higher fee funds. In August 2018, the company paid $4.5 million to settle charges that it failed to safeguard retail investor assets from theft by its representatives after 5 Ameriprise representatives committed fraudulent acts, including forging client documents and stole more than $1 million in client funds over a four-year period. References External links Ameriprise Investor Relations A small group of historical corporate records of IDS are available for research use at the Minnesota Historical Society. FINRA Brokercheck Page JD Power ranking of online brokers American Express Corporate spin-offs American companies established in 1894 Financial services companies established in 1894 Investment management companies of the United States Companies based in Minneapolis Companies listed on the New York Stock Exchange