SPRINGFIELD, Ill. (IRN) — Illinois Treasurer Michael Frerichs held a news conference in Chicago with U.S. Rep. Danny Davis, D-Chicago, to urge the U.S. Treasury to make it easier for states to facilitate the return of mature U.S. Savings Bonds.
Freichs said the Illinois Treasurer’s Office has an unclaimed property and missing money department where they take money that was maybe forgotten in an old savings account, and they put that money back into the pockets of those who may claim the assets.
“When we put that money pack into people’s pockets they’re able to use that money to maybe go out and take their family to dinner or go shopping,” said Frerichs. “When we get that money circulating throughout our economy it does a lot more good for our state than it does sitting in a bank vault somewhere.”
Freichs said the Illinois Treasurer’s Office is aware that there are other forms of money out there that have gone…
