Illinois State Treasurer’s Office News Releases

SPRINGFIELD — Illinois State Treasurer Michael Frerichs today returned a Purple Heart medal to Barbara Ann Reynolds, the daughter of late Korean War Veteran Corporal John W. Naylor of Springfield, at a ceremony at the Illinois State Capitol. The Purple Heart is one of the most recognized and respected medals awarded to members of the U.S. Armed Forces. Frerichs also returned Cpl. Naylor’s Combat Infantryman Badge, a special military award for members of the infantry who fight in combat. Naylor served in the Army. The awards were discovered in a…

SPRINGFIELD — Illinois Treasurer M ichael Frerichs released the following statement today after Wells Fargo adopted a n amendment to the corporate bylaws that requires the Board Chair be independent from the CEO. Frerichs co -filed a shareholder resolution with Connecticut State Treasurer Denise L. Nappier to require the change to Wells Fargo bylaws. “I am pleased to see Wells Fargo embracing change. This change to ensure accountability and stronger oversight will benefit everyone with an interest in the company. An independent board chair, as well as board diversity, is…

SPRINGFIELD — Illinois Treasurer M ichael Frerichs announced today that he has co-filed a shareholder resolution with Connecticut State Treasurer Denise L. Nappier to require a change to Wells Fargo bylaws. The change would require the Chair of the Board of Directors to become an independent member of the board. “Wells Fargo’s predatory and illegal banking practices have proved that the company needs a set of independent eyes to ensure stronger, unbiased oversight,” Frerichs said. “Recent revelations demonstrate Wells Fargo’s weak internal controls. When the CEO also serves as Board…