From my bank:
This new reporting plan would force banks like us to report the inflows and outflows on all personal and business accounts with a balance of $600 or more. We would not have a choice in reporting this information to the IRS if this proposal is enacted into law.
The article is from April, the letter from my bank is this week. There are other articles that have that detail but you have to sign up for them to read them and unlike others I posted what you can get to and read easily.
I see the mention of the bank letter in your first post. I probably forgot it by the time I got down thread. I’ve read a few more articles on the subject. There seems to be some confusion if the reporting would be on a monthly or annual basis if enacted.