Jerseyville IL (October 16, 2014) - James Hoefert, President/CEO of Jersey

State Bank accompanied with members and staff from the Illinois Bankers Association and the Illinois League of Financial Institutions, recently visited Washington D.C. for their 2014 annual meeting. While in Washington, there were meetings scheduled with both U.S. Congressmen and Senators. Group meetings were held with the Federal Reserve, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation and the Federal Housing Finance Agency.

Get The Latest News!

Don't miss our top stories and need-to-know news everyday in your inbox.

Article continues after sponsor message

"There are several issues that are affecting bankers nationwide that require immediate attention. We need congress to step up if we are going to resolve these problems" Hoefert said. "Retail data breaches continue to escalate and are now costing banks millions of dollars annually. In the past, the banks have absorbed the losses. That responsibility needs to be shared equally between both retailers and banks. Non-bank competition between tax exempt Credit Unions and agencies such as Farm Credit System also need to be addressed as they have outgrown their missions by aggressively expanding to serve wealthier, well established individuals". In addition to the above, issues discussed included the CFPB requirements hindering banks from offering certain mortgages, and providing services to medical marijuana businesses that are now legalized within the state but continue to remain illegal under federal law.

Jersey State Bank, the only locally owned Bank in Jersey County, has a long history of providing financial products and services to Jersey County and the surrounding area. Established in 1903, the Bank has assets in excess of $150 million and currently two offices to serve its customers in Jerseyville and Grafton.

If you would like more information, you may contact Jim Hoefert. He can be reached at 618-498-6466 or e-mail him at

More like this:

Jan 30, 2024 - Local Banker - Andy Ambrose - Selected to Participate in Future Leaders Alliance

Mar 5, 2024 - First Mid Bank & Trust Offers Tips On Planning For A Mortgage Ahead Of Busy Housing Market Season

4 days ago - Attorney General Raoul Charges Woman For Stealing Nearly $250,000 Through Unclaimed Property Program

Apr 4, 2024 - Jersey Community High School Students Of The Month Are Honored

Mar 13, 2024 - Belt Advances Measure To Enhance Consumer Protections For Small Businesses