ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
Home ABA Banking Journal Podcast

Podcast: How the IRS Reporting Proposal Would Affect Banks and Customers

October 14, 2021
Reading Time: 2 mins read

On the latest episode of the ABA Banking Journal Podcast — sponsored by NICE Actimize Xceed — Citizens Bank of Edmond CEO Jill Castilla talks about the effects the Biden administration’s controversial proposal for a financial account reporting regime would have on a bank like hers, with $310 million in assets and 55 employees. She talks about the challenge of implementing a system like this alongside current anti-money laundering reporting and 1099 filing at a community bank.

Castilla also discusses why she started speaking out about the proposal, which would entail bank reporting to the IRS of gross annual inflows and outflows in financial accounts over a de minimis threshold of $600. Hearing directly from Citizens Bank customers worried about their financial privacy and about the elevated risk of audits over normal transactions motivated Castilla to press the issue.

With House Speaker Nancy Pelosi indicating that congressional leaders still plan to include some version of this reporting regime in the social spending bill — which continues to be negotiated on Capitol Hill — ABA continues urging bankers to take action and educate their customers about the proposal.

  • Take action and find customer resources at SecureAmericanOpportunity.com.
  • If you can’t see the audio player above, click here to listen to this episode.

This episode is sponsored by NICE Actimize Xceed.

In this episode:

Jill Castilla
President and CEO
Citizens Bank of Edmond
Evan Sparks
Editor-in-Chief
ABA Banking Journal

 

Tags: ABA Banking Journal PodcastIRSReporting
ShareTweetPin

Related Posts

ABA, associations seek data behind FHFA credit score modernization effort

FHA formalizes use of alternative credit scoring models

Mortgage
October 9, 2026

FHA published a mortgagee letter to formalize the use of VantageScore 4.0 and FICO Score 10T alongside Classic FICO to assess the creditworthiness of single-family mortgages, with the new policy taking effect at the start of the coming...

Podcast: The birth of American money and how it triggered a revolution

Podcast: The birth of American money and how it triggered a revolution

ABA Banking Journal Podcast
October 8, 2026

How the American colonies developed their own monetary systems, and why the British ultimately rejected them.

Survey finds young people most likely to fall for phone scams

GAO finds new trigger leads restrictions could have longer-term benefits

Mortgage
October 8, 2026

New federal restrictions to curb abusive trigger leads should reduce the volume of unwanted solicitations homebuyers receive, with research showing that the marketing practice does little to save consumers money, the Government Accountability Office said in a new...

CPFB report claims health savings accounts have ‘hidden costs’

HSA Council offers senators recommendations for expanding account access

Human Resources
October 7, 2026

Lawmakers should consider policies that strengthen the value and accessibility of health savings accounts rather than policies that inadvertently discourage employers from offering HSA-qualified coverage, ABA's Health Savings Account Council said in a letter to the Senate Finance...

FOMC minutes: Persistent inflation clouds path forward

FOMC minutes show another rate increase possible

Economy
October 7, 2026

Most members of the Federal Open Market Committee believe they may need to raise the target range for the federal funds rate a second time before the end of the year, although that decision will depend on further...

Regulators take issue with discrimination definition in proposed appraisal standards

ABA, associations urge housing agencies to seek uniformity in appraisal modernization

Mortgage
October 7, 2026

As they seek to implement appraisal modernization legislation passed by Congress, the most efficient approach for federal housing agencies would be to align their reconsideration of value processes with the collateral valuation standards already established by Fannie Mae...

NEWSBYTES

Consumer sentiment falls in October

October 9, 2026

Fed survey finds increase in family income, financial stress

October 9, 2026

FHA formalizes use of alternative credit scoring models

October 9, 2026

SPONSORED CONTENT

The Shift from Demographic Marketing

The Shift from Demographic Marketing

October 1, 2026
Meeting Ag Lending Goals Without Going It Alone

Meeting Ag Lending Goals Without Going It Alone

October 1, 2026
Beyond the Portfolio: The Wealth Manager’s New Role in a Multigenerational World

Beyond the Portfolio: The Wealth Manager’s New Role in a Multigenerational World

September 17, 2026
Banking Technology at a Strategic Crossroads

Banking Technology at a Strategic Crossroads

September 8, 2026

PODCASTS

Podcast: The birth of American money and how it triggered a revolution

October 8, 2026

Podcast: Creating seamless customer experiences

September 30, 2026

Podcast: Telling a different kind of story about community banks

September 28, 2026

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2026 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2026 American Bankers Association. All rights reserved.