2016

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…

SPRINGFIELD — Statement by Illinois Treasurer Michael Frerichs on today’s decision by the Illinois Labor Relations Board: “ The governor’s labor board decision today is disappointing. Illinois workers have stated clearly their desire to work while negotiating in good faith. The good news is this: The governor could choose to return to the bargaining table. I urge him to do exactly that.” About the Illinois Treasurer The Illinois Treasurer is the state’s chief investment officer and Frerichs is a Certified Public Finance Officer. He protects consumers by encouraging savings plans…

CHICAGO — Illinois Treasurer Michael Frerichs announced today that Illinois’ Bright Directions College Savings Program was named among the best in the nation, according to Morningstar. Morningstar, which evaluates and rates college savings plans, released its results Tuesday rating Bright Directions a “Silver-Rated Fund”. According to Morningstar, Bright Directions is one of the two highest rated advisor-sold plans in the country. “We are always looking for ways to improve our investment products to help make saving for college more affordable for Illinois families,” Treasurer Frerichs said. “We are grateful that…