Industry officials are charging that recently proposed rules for banks that electronically process federal tax payments would be needlessly burdensome.

"We believe some of the recommendations are unnecessary and would add significant incremental costs to our operation if implemented," Marianne G. Doan, vice president of The Northern Trust Co., said in comments filed with the Treasury Department's Financial Management Service.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.