Jump to Content
close
close
ABA: The American Bankers Association
Statement
  • For Immediate Release
  • February 15, 2023

ABA Applauds Introduction of Prohibiting IRS Financial Surveillance Act

“ABA applauds Senate Banking Committee Ranking Member Tim Scott, Senate Finance Committee Ranking Member Mike Crapo and the other co-sponsors for introducing the Prohibiting IRS Financial Surveillance Act.  This important legislation would prevent the Internal Revenue Service from requiring financial institutions to turn over transaction information for millions of law-abiding bank customers.

“While we firmly believe that everyone should honor their tax obligations, the American people have a reasonable right to privacy and Congress should consider how the IRS can use its existing authorities to focus on those suspected of evading their taxes, rather than casting such a wide and unnecessary net. We urge lawmakers to listen to concerns of their constituents and advance this commonsense proposal.”  

###

About the American Bankers Association

The American Bankers Association is the voice of the nation’s $23.9 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $18.8 trillion in deposits and extend $12.5 trillion in loans.

In Depth

Press Contact

Blair Bernstein

(202) 663-5468

Contact Blair
Useful Links

Resources for the Media

Media Contacts

All inquiries from the press can be directed to one of our press contacts.

ABA Expert Photos

Hi-Res photos for use by the press.

ABA Media Appearances

Getting the industry's message out – in print and on the air – about banks' health and lending, as well as policies that are harmful to economic recovery.

Media Credentials

Complimentary press registrations are available for select events.

Join Our Media Lists

Want to be added to our news release list? Sign up here.

RSS Feed

Get ABA press releases via RSS.