Attorneys general from 20 states expressed opposition to the Biden administration’s proposal to require banks to report customer information to the IRS.
State AGs: In a joint letter, the officials said the proposal would violate consumer privacy, excessively burden financial institutions, and collect more information than the IRS could process.
Latest from ICBA: ICBA and groups such as the National Association of Realtors and U.S. Chamber of Commerce last week delivered a joint letter and supporting document to Congress dismissing efforts to modify the IRS proposal response to widespread opposition.
Call Alert: ICBA is urging community bankers to speak out against the proposal by calling their lawmakers using an ICBA call alert and customizable script.
ICBA Campaign: Community bankers can also continue using customizable email and social media content to urge consumers to contact Congress in opposition.