Trump Administration Considers Tasking Banks with Collecting Citizenship Data
A potential executive order could task banks with gathering immigration status information from customers.
The Trump Administration may require banks to request citizenship data from their customers, according to the Wall Street Journal.
White House officials are currently considering how to implement this mandate, the Journal reported on Tuesday. Possible avenues being explored include an executive order and policy update from the Treasury Department’s Financial Crimes Enforcement Network.
No government agency has released guidance on this potential rule at this time. However, Republican Sen. Tom Cotton of Arkansas posted on X that he plans to introduce legislation preventing undocumented immigrants from accessing U.S. banks.
