Consumer Alert - Pending Legislation
September 15, 2021
To Our Valued Customers,
We care about you, your finances, and your relationship with Middletown Valley Bank, so we want to let you know about a concerning proposal taking shape in Washington. If passed, the proposal would require financial institutions to report transaction activity on all personal and business accounts with a balance of more than $600 to the Internal Revenue Service (IRS).
Based on recent surveys and research, it is believed this would be an excessive government intrusion on the privacy of Americans and will likely hurt small businesses by potentially double-taxing their income. We value your business and privacy and want to make sure you have all the information you need regarding your finances and your money.
If you wish to make your voice heard by policymakers or learn more about this proposal, visit the grassroots site Secure American Opportunity, brought to you by the American Bankers Association. By visiting the Secure American Opportunity site, you have the opportunity to connect directly with elected representatives in your district.
Please let us know if you have any questions. We look forward to continuing to serve you and our communities.
Sincerely,
Robert E. “BJ” Goetz, Jr.
President & CEO