IRS proposal draws strong consumer opposition: op-ed

A proposal to require banks to report customer account information to the IRS is eliciting strong consumer opposition, ICBA Secretary Tim Aiken wrote in a new op-ed.

Op-ed: In the Charleston [W.Va.] Gazette-Mail, the president and CEO of Union Bank Inc. in Middlebourne, W. Va., cited ICBA poll results showing 67% of voters oppose the plan and 64% do not trust the agency to monitor their account information.

Campaign: With Congress now considering the proposal, ICBA offers customizable email text and social media content to help community bankers urge consumers to contact Congress in opposition.

Response: Nearly 60,000 consumers have sent nearly 180,000 messages to their members of Congress expressing opposition to the IRS plan.