Michael Frerichs

Chuck Herrera/Pixabay (CC0)

On just the first day of sales on January 1, legal marijuana in Illinois brought in nearly $3.2 million dollars, with a total of almost $11 million dollars in sales by the end of that week, according to the state.

But while recreational weed is now legal in Illinois, it’s still considered a schedule 1 drug at the federal level. That makes banking a challenge for weed businesses.

Illinois Treasurer Michael Frerichs visited the Peoria Public Library today to teach preschoolers how to think about money.

JERRY NOWICKI / CAPITOL NEWS ILLINOIS, USED WITH PERMISSION

State Treasurer Mike Frerichs is among the first Illinois officials to endorse a candidate in the 2020 Democratic presidential primary, and he's backing Elizabeth Warren.

Frerichs made the announcement seemingly out of the blue this week. Other statewide officeholders — including Governor J.B. Pritzker — have so far kept out of the crowded Democratic primary.

He said Warren “stands out” among the 20-plus candidates — and particularly likes her plan to cancel student loan debt for a large swath of Americans, paying for it with a wealth tax.

Illinois state Treasurer Michael Frerichs has won approval of a law making it easier for survivors of deceased family members to claim life insurance benefits. 

The state treasurer says Illinois Gov. Bruce Rauner must go to New York to talk bond-rating houses out of knocking the state's creditworthiness into "junk" status.

Cass Herrington / Peoria Public Radio

Families with children who are blind or disabled have a new option for investing money, without jeopardizing their federal benefits.

Flickr Creative Commons/Neeta Lind

The Illinois treasurer has sent President Donald Trump a letter urging him to give clear guidance to the banking industry about medical marijuana.  State Treasurer Michael Frerichs says Trump's approach will be crucial to the continuing availability of medical marijuana in Illinois.

Cass Herrington / Peoria Public Radio

Illinois’ State Treasurer is doubling down on a legislative effort to make sure that people get the life insurance money they’re owed.

Illinois state Treasurer Michael Frerichs says Wells Fargo will lose millions of dollars in fees after the state suspended $30 billion in investment activity with the troubled bank today.  Frerichs made the announcement at a news conference in Chicago after U.S. and California regulators fined San Francisco-based Wells Fargo $185 million.