2016

CHICAGO — Illinois State Treasurer Michael Frerichs today hosted a celebration at the James R. Thompson Center in Chicago to commemorate LGBT History Month. The event was an opportunity to reflect on the challenges and achievements in the lesbian, gay, bisexual, and transgender community. October is LGBT History Month. “Today, we stand together proudly and celebrate our LGBT neighbors and community,” Frerichs said. “We must work every day to secure the dignity that is deserving of every human being.” Victor Salvo, Founder and Executive Director of The Legacy Project, served…

CHICAGO — The state of Illinois could have earned $5.5 million more in investment income in the third quarter of 2016 as a result of the year-long budget impasse, Illinois Treasurer Michael Frerichs said today. “Our goal is to maximize every investment opportunity to get the best return for the state, but planning is difficult without a full-year budget in place,” Frerichs said. “When the Governor and General Assembly reconvene next month, I am hopeful they will find compromise and focus on passing a full-year, balanced budget to minimize further…

SPRINGFIELD — Illinois Treasurer Michael Frerichs announced a $10 million investment in Israel bonds. The investment matures in July 2018. “Israel Bonds remain a strong, reliable investment with a good return for Illinois, ” said Frerichs. “This investment is a great way to diversify our portfolio while also reaffirming our special relationship with the State of Israel.” Since visiting Israel this summer and seeing firsthand the projects funded via Israel Bonds, Frerichs increased the state’s investments in Israel Bonds by $5 million. Illinois now invests a total of $30 million…

CHICAGO — Illinois State Treasurer Michael Frerichs today suspended $30 billion in investment activity with Wells Fargo after the bank acknowledged it improperly opened more than 2 million bank accounts and violated the rights of military personnel by seizing vehicles without a court order. Bank personnel improperly opened credit and debit cards as well as deposit and online accounts without the knowledge of their customers between 2011 and 2015. During this five -year period, the company extracted millions of dollars in fraudulent fees and damaged credit records, forcing some customers…

CHICAGO — Illinois State Treasurer Michael Frerichs will announce plans to suspend billions of dollars in investment activity with Wells Fargo. Wells Fargo is under fire after the bank admitted to secretly opening over two million unauthorized accounts for its customers. A news conference will be held on Monday, October 3 at 10:00 a.m. at the James R. Thompson Center (Blue Room) at 100 West Randolph, in Chicago, IL to share details about the moratorium. WHO: Treasurer Michael Frerichs Will Guzzardi, Illinois State Representative Jacqueline Collins, Illinois State Senator William…