LSCU Tops 90,000 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 4, 90,853 contacts to Congressional offices had been made by credit union members in Alabama, Florida, and Georgia, and 435,968 contacts had been made nationwide, marking staunch opposition to the proposed reporting requirement.

Following the LSCU Advocacy team’s Hill meetings last week, it became apparent that members of Congress are consistently hearing from their constituents on this issue at a rate unlike various other topics.

Credit union members are truly making a difference and should be encouraged to continue reaching out as conversations around the issue continue at the federal level.

Contact can be made through the LSCU Action Center.

For questions, please contact our Advocacy team.

Written by
Lizeth George
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About Us

The League of Southeastern Credit Unions & Affiliates represents 302 credit unions in Alabama, Florida and Georgia, with a combined total of $175 billion in assets and more than 11.6 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

LSCU Mission Statement

To create an environment that enables credit unions to grow and succeed.

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To be the trusted advocate and preferred source of information for credit unions.

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