Frerichs In Midst Of Illinois Treasurer Office Audit

Mar 10, 2015

The new state treasurer is in the middle of an extensive review of how the office is managed.

Democrat Mike Frerichs says he brought in “outside eyes” to make sure the office is operating efficiently. 

He declined to share any findings so far.

“After a hundred days we’re gonna travel around the state and talk to people about the things that these outside auditors – these experts – have uncovered.”

Frerichs also says he’s working to eliminate so-called “banking deserts,” or places where there are no community lenders. He says the treasurer’s office deposits a lot of money in banks, which gives it leverage to ensure financial institutions are serving everyone.