Trump admin considers requiring banks to collect citizenship information

The Trump administration is considering an executive order requiring banks to collect citizenship information from customers. This move aims to enhance enforcement against undocumented immigrants in the U.S.

Banks may have to request new documents, such as passports, from both new and existing clients. Discussions of this potential order have startled banks, as current regulations do not mandate collecting citizenship data.

A senior White House official indicated that talks are ongoing within the Treasury Department, but no formal decision has been made.