LSCU Tops 130,000 Congressional Contacts to Oppose IRS Reporting Requirement

Credit unions in Alabama, Florida, and Georgia remain adamantly opposed to efforts to require financial institutions to report to the IRS on transactions of $600 or more. This provision, which would be incredibly burdensome to financial institutions, is intrusive to consumers and grants unwarranted access to the IRS.

As of Monday, October 25, nearly 130,000 contacts to Congressional offices had been made by credit union members in Alabama, Florida, and Georgia marking staunch opposition to the proposed reporting requirement.

We continue to hear from members of Congress who are undecided on how they will vote, so please continue encouraging your members to reach out to lawmakers because it is truly making a difference in changing the course of direction this proposal will take.

Contact can be made through the LSCU Action Center.

For questions, please contact our Advocacy team.

Written by
Lizeth George
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The League of Southeastern Credit Unions & Affiliates represents nearly 300 credit unions throughout Alabama, Florida, and Georgia. It has a combined total of almost $200 billion in assets and 12.4 million members. LSCU provides advocacy, compliance services, education and training, cooperative initiatives, and communications.

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