The proposal to expand financial institution reporting to the Internal Revenue Service continues to raise major concerns despite revisions, CUNA Chief Advocacy Officer Ryan Donovan said, adding that it would impact nearly every American that earns a wage.

Eligible LICUs may accept 30-year subordinated debt investments from the Treasury’s Emergency Capital Investment Program, as detailed in a letter to credit unions. The announcement is part of a three-step process NCUA is taking ensure credit unions have full access to EICP.

CUNA received an additional nomination last week for its board election. Nominations are now being accepted for nine open director positions on CUNA’s Board of Directors. The deadline for nominations and seconds is Thursday, Nov. 11.  

CUNA wrote in support of a bill from Sen. Tim Scott (R-S.C.) Thursday that would prohibit implementation of increased financial institution reporting to the IRS, the Prohibiting IRS Financial Surveillance Act. A House companion bill was introduced earlier this week.

The CFPB Thursday issued a series of orders to collect information on the business practices of large technology companies operating payments systems in the U.S., including Amazon, Apple, Facebook, Google, PayPal, and Square.