First New Mexico Bank

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Keep My Banking Private

You matter to us at First New Mexico Bank, Las Cruces and we care about your finances and accounts with us. We want you to know the facts concerning developments in public policy that expose your financial privacy. 

A recent proposal in Washington would require all community banks and other financial institutions to report account activity to the IRS on all business and personal accounts. If this passes, First New Mexico Bank, Las Cruces and financial institutions like ours would be required to report deposits and withdrawals of $600 or more on personal and business accounts to the IRS regardless of customers’ consent. This will create an enormous burden on coummunity banks and an unnecessary invasion of privacy to our customers.

To send an electronic letter to your members of Congress, use the following link provided by Independent Community Bankers of America (ICBA).

https://www.icba.org/bank-locally/consumer-alert-from-icba

Thank you for taking the time.

 

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