CUNA, NAFCU and the Independent Community Bankers of America have written a joint letter to two key Senators requesting they strip a provision from a transportation bill, which could require additional mortgage reporting to the IRS.
In the July 16, 2015 letter to Sen. James Inhofe (R-Okla.) and Sen. Barbara Boxer (D-Calif.), the three trade groups emphasized their opposition to a provision in a transportation bill that would mandate financial institutions report to the IRS the date of origination of each mortgage, the outstanding principal of each loan and the property's address.
Inhofe and Boxer are the Chairman and Ranking Member of the Senate Environment and Public Works Committee, which must take up the Highway and Transportation Funding Act of 2015 Part II. The act passed the House of Representatives on July 15.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
