As your community bank, we want our customers to know the facts, especially when it relates to concerning developments around public policy that expose your financial privacy.
A proposal in Washington would require all community banks and other financial institutions to report to the IRS on business and personal account deposits and withdrawals regardless of tax liability.
All accounts worth more than $600 would be affected by this proposal. Banks would be required to report all account transactions virtually.
This indiscriminate, comprehensive bank account reporting to the IRS can soon be enacted in Congress.
FSCB cares about you, your finances, and your account with our community bank. We encourage you to learn more about this proposal here and make your voice heard by policymakers.
Let's work together to spread the word about the flaws of this misguided proposal on Capitol Hill and in local communities nationwide. #KeepMyBankingPrivate
