FirstOak Bank typically stays out of the political conversation, however, a potential new provision is being considered that we want to bring to your attention.

This new provision is aimed at addressing the “tax gap” and would require almost all banks to report to the IRS withdraws and deposits of $600 or more for nearly every customer account. We believe this proposal puts customer privacy and data at risk.

If you are opposed to these considered provisions, we encourage you to contact your Congress person by generating a letter here: https://bit.ly/3CAdgC1