Illinois State Treasurer’s Office News Releases

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…