On September 17th, the Consumer Bankers Association, the American Bankers Association, and a large number of other financial trade associations sent a letter to Speaker of the House Nancy Pelosi (D-CA), Majority Leader Kevin McCarthy (R-CA) and other House Members opposing a proposal under consideration as part of the budget reconciliation package that would require financial institutions and other providers of financial services to track and submit to the Internal Revenue Service (IRS) information on the inflows and outflows of every account above a de minimis threshold of $600 during the year, including breakdowns for cash.… Continue Reading
IRS
An important educational blog from the CFPB
By Alan S. Kaplinsky on
Posted in CFPB General, Regulatory and Enforcement
While our blog tends to focus primarily on regulatory, supervisory and enforcement developments at the CFPB, the CFPB also performs an important function in educating consumers about scams.
I frequently receive voicemail messages at home from people who are tell me that they are calling on behalf of the IRS to warn me that I will be arrested because of problems with my tax returns unless I promptly call a telephone number that they provide. … Continue Reading