“Grave Concern” Over Onerous Reporting Measure from Trade Bill
The NAFCU and others have sent a letter to House and Senate leaders detailing concern over a burdensome reporting provision affecting credit unions and other financial institutions included in trade legislation. The "Trade Preferences Extension Act" would change current law to require credit unions, banks, and brokers/dealers to report to the IRS and members information related to all interest-bearing and non-interest bearing accounts. [6/4/15]
