Illinois State Treasurer’s Office News Releases

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…