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Trump Administration Considers Requiring Banks to Collect Citizenship Information: WSJ
The administration aims to expand immigration enforcement by requiring banks to verify citizenship for all customers, a move that alarms banking officials and may retroactively affect existing accounts.
- Reports say the Trump administration is considering an executive order that would direct U.S. banks to gather proof of citizenship, like passports, from new applicants and potentially from existing account holders.
- The proposal aligns with the Trump administration’s broader push to reduce illegal immigration and tighten enforcement across employment, public benefits and other sectors.
- Existing law already requires identity verification but reports say passports would be cited as acceptable proof while REAL IDs would not qualify as proof of citizenship.
- Industry representatives warned the banking industry would face logistical, legal, and political costs, with a lobbyist describing it as `complete nightmare`.
- The White House has cautioned that no policy is official until the president announces it, while past efforts like sharing IRS data faced legal challenges, according to Kush Desai.
34 Articles
34 Articles
'Alarms': Trump's bank order plan sends financial institutions into panic mode
President Donald Trump has alarmed banks after floating his latest executive order idea, according to a new report. The Wall Street Journal reported on Tuesday that the Trump administration is considering issuing an executive order requiring banks to collect citizenship information from customers. It is part of the administration's broader push to crack down on illegal immigration and would require banks to verify customers' passports and other …
Trump eyes bank citizenship checks amid immigration crackdown: reports
The Trump administration is mulling an executive order or a different action that would have banks collecting citizenship information from their customers, according to reports.The Wall Street Journal reported Tuesday that Treasury Department officials have discussed steps that could have banks gathering citizenship information from customers in a move that would align with Trump’s crackdown on immigrants living in the U.S. illegally.According t…
The Trump administration plans to require banks to collect information related to their clients' citizenship is gaining strength
Washington, Feb. 24, (EFE).- Donald Trump's U.S. President's government is considering signing an executive order that requires the country's banks to provide more data to the authorities, including the nationality of their clients, a measure aimed at strengthening the fight against illegal immigration, as local media advanced this Tuesday. Newspapers like The Washington Post or The Wall Street Journal today publish the information citing source…
Trump Planning Executive Order to Make Banks Collect Citizenship Data: Report.
PULSE POINTSWHAT HAPPENED: The Trump administration is considering an Executive Order requiring banks to gather citizenship information from customers.WHO WAS INVOLVED: The Trump administration, U.S. banks, and Treasury Department’s Financial Crimes Enforcement Network (FinCEN).WHEN & WHERE: Discussions are believed to be ongoing as of February 2026.IMPACT: The order would allow the Trump administration to open a new front in the financial secto…
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