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News

Home » CUNA supports bill to block IRS collection of private transaction information
Policy & Issues

CUNA supports bill to block IRS collection of private transaction information

February 15, 2023
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Sens Tim Scott, R-S.C., and and Mike Crapo, R-Idaho, introduced the Prohibiting IRS Financial Surveillance Act, to block Internal Revenue Service (IRS) access to taxpayers’ private transaction information.

Credit unions and their members engaged in a vigorous grassroots effort against the 2021 proposal to direct the IRS to collect private transaction data of virtually every consumer in the U.S.  As written, the legislation prohibits such requirements from being established.

CUNA strongly supports the bill. Scott and Crapo, Ranking Members of the Senate Banking, Housing, and Urban Affairs Committee and Senate Finance Committee, respectively, are joined by 29 other Senators sponsoring the legislation.

CUNA is part of a broad coalition of organizations in support of the bill.

Credit Union Magazine: Spring 2023

Spring 2023

Credit Union Magazine’s Spring 2023 issue features the 2023 Credit Union Heroes and examines CUNA-League advocacy priorities, board leadership, the impact of financial well-being efforts, fee-related compliance issues, predictions for the year ahead, and more.
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Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

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