News Releases - February 2020


Treasurer Torsella Sets First PA Treasury Ethics Standard For Advertising Ahead Of Elections

Treasury to exclude Treasurer Torsella’s image from department advertising before elections

Harrisburg, PA - Pennsylvania Treasurer Joe Torsella today announced that during the year 2020 Treasury will establish, for the first time, a new policy standard for Department advertising. Any advertising of Treasury’s consumer programs during the 60 days leading up to an election day in Pennsylvania will exclude Treasurer Torsella’s name, voice, and image.



Keystone Scholars Reaches First Major Milestone

More than 10,000 Pennsylvania babies are registered

Harrisburg, PA - Pennsylvania Treasurer Joe Torsella today announced that more than 10,000 babies in Pennsylvania have been registered for Keystone Scholars since the program expanded statewide on January 1, 2019. Of those 10,000 families, 20 percent have gone on to open their own PA 529 College and Career Savings Program (PA 529) accounts.



2019 Marks Best Year on Record for the PA 529 College and Career Savings Program

Pennsylvania families saved more last calendar year than any other year on record

Harrisburg, PA - Pennsylvania State Treasurer Joe Torsella today announced that the Pennsylvania 529 College and Career Savings Program (PA 529) recorded its best year in the program’s 25-year history for contributions during calendar year 2019. This is the second year in a row that Pennsylvania families beat this record.



Treasurer Torsella Searching for “Valentines” with Unclaimed Property

Treasury holds more than $730,000 for Pennsylvania’s “Valentines”

Harrisburg, PA - Will you be Treasury’s Valentine? Thousands of Pennsylvanians could say yes to that question. In celebration of Valentine’s Day, Treasurer Joe Torsella announced that Treasury holds more than $730,000 worth of unclaimed property for more than 7,000 Pennsylvanians with the first, middle, or last name of “Valentine,” “Cupid,” or “Love."



Bipartisan Treasurers Coalition Opposes FDIC Rule Opening Door To Payday Lending

Urges FDIC not to allow payday lenders to bypass state laws through “rent-a-bank” schemes

Harrisburg, PA - A bipartisan coalition of 16 state treasurers, submitted a letter in opposition to a pending Federal Deposit Insurance Corporation (FDIC) proposal. The FDIC proposal would directly harm consumers by renewing payday, car title and other high-cost lenders’ ability to bypass state laws through so-called “rent-a-bank” schemes.



Pennsylvania Treasury Authorizes $250 Million Line Of Credit To PHEAA

Line of credit granted to underwrite PHEAA’s student loan rehabilitation initiative and the PA Forward Student Loan Program

Harrisburg, PA - Pennsylvania Treasurer Joe Torsella today announced the authorization of a line of credit from Treasury’s Short-Term Investment Pool (STIP) to the Pennsylvania Higher Education Assistance Agency (PHEAA) to support PHEAA’s student loan rehabilitation initiative and its PA Forward Student Loan Program. Treasury has provided lines of credit to PHEAA since 1990 to assist in the funding of education loans to Pennsylvania students and families.