Oostburg State Bank does not normally engage on topics related to politics, but we feel there is an urgent matter pending in Congress that needs your attention. As your trusted community bank we want our customers to know the facts, especially when it relates to concerning developments around public policy that exposes your financial privacy. A proposal by the current administration would require all community banks and other financial institutions to report to the IRS on business and personal account deposits and withdrawals $600 and over. This indiscriminate, comprehensive bank account reporting to the IRS can soon be enacted in Congress and would create an unacceptable invasion of privacy for our customers. We work for our customers and our community, not the IRS. Mandated IRS bank account reporting is excessive government intrusion. #KeepMyBankingPrivate Read about the proposal here: https://www.ocalapost.com/biden-wants-irs-to-snoop-into-your-bank-account-know-when-you-have-600-or-more/ Learn more here: https://banklocally.org/privacy |
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