2020

Chicago City Treasurer Melissa Conyears-Ervin and Illinois State Treasurer Michael Frerichs hosted a follow-up this week to their June 19 virtual town hall with the Advancing Equity in Banking Commission (AEBC), where bank executives reported their investments in bridging the racial wealth gap and how they can continue to do more. The Advancing Equity in Banking Commission is a network of prominent banking institutions anchored in Illinois and committed to advancing equity and eliminating systemic racism in the banking industry through equitable hiring and lending and investment in underserved neighborhoods.…

CHICAGO — All companies on the Russell 3000 index should disclose racial, ethnic and gender data for their Board of Directors because doing so will lead to more informed long-term strategies and greater valuations for shareholders, Illinois State Treasurer Michael Frerichs said today. “Insular corporate boards make too many decisions in an echo chamber and miss opportunities for growth and leadership,” Frerichs said. “Providing racial, ethnic and gender disclosure will allow institutional investors to identify strategic weaknesses that inhibit growth and provide specific guidance to maximize shareholder value.” A letter…

Illinois Secretary of State Jesse White and Treasurer Michael Frerichs have successfully partnered with National Cash Register (NCR) – the Treasurer’s approved payment processor company – to remove the e- check payment processing fee through the year 2020. This is part of an ongoing effort by White to encourage online transactions with the Secretary of State’s office at www.cyberdriveillinois.com. “Don’t wait, renew online by e-check,” said White. “By renewing your vehicle registration or obtaining a duplicate driver’s license or ID card online by e-check through December 31 , you won’t…

SPRINGFIELD — The federal government must implement common-sense requirements to boost the numbers of women and people of color within the ranks of finance and big business, Illinois State Treasurer Michael Frerichs told the Securities and Exchange Commission today. Big banks and investment houses remain reluctant to change legacy rules that serve as barriers to employment for women and people of color, such as unreasonable years of service and a minimum of $1 billion in investment assets. Further, while some institutions acknowledge that the removal of barriers to female and…

CHICAGO — Illinois State Treasurer Michael Frerichs joined State Rep. Lindsey LaPointe today to announce the return of $19,278 to the Geographic Society of Chicago through the Treasurer’s unclaimed property division. The money left for the Geographic Society of Chicago was from the estate of Chicago resident Hazel Gaunt, who passed away in 2005. “We are proud to carry out the wishes of the late Hazel Gaunt and return money to the Geographic Society of Chicago where it belongs,” Frerichs said. “Hazel passed away in 2005, but her generosity is…