Illinois – Banks to Waive Fees for Holocaust Reparations

Illinois – The Illinois Treasurer Alexi Giannoulias said today that so far about 85 out of 700 banks have agreed to waive international transfer fees on reparation payments to Holocaust survivors.

He asked banks that do business in Illinois to waive the fees, which range from $10 to $40 and can be up to 10 percent of the amount that is transferred.
"This is a simple act that pays homage to Holocaust survivors," "Waiving these fees will have a small impact on the banks' bottom line, but speak volumes about their commitment to the well-being of Illinois residents," Giannoulias said.

There are more than 5,000 Holocaust survivors in Illinois, a significant number of whom receive an average $350 in monthly reparation payments.

Banks in California, Massachusetts, Florida and Minnesota have sought similar waivers. [chicagotribune]