Treasury Secretary Bessent Announces Executive Order Requiring Banks to Collect Customer Citizenship Data

Executive Order Announcement Treasury Secretary Scott Bessent stated that an executive order mandating banks to collect citizenship information from their customers is in process.

The statement was reported by news outlet Semafor. Bessent made the remarks in his capacity as Treasury secretary. The executive order aims to require financial institutions to gather data on customer citizenship status.

This initiative follows Bessent's recent confirmation to the position. No timeline for the order's issuance was provided in the statement.

Senate Confirmation Details Scott Bessent won the Senate's confirmation to be Treasury secretary in a 68-29 vote.

The confirmation occurred prior to the current date of April 14, 2026. This vote secured his role in the incoming administration. President-elect Donald Trump picked Scott Bessent as Treasury secretary.

The selection aligned with Trump's economic policy priorities. Bessent's confirmation reflects bipartisan support in the Senate tally.

Responsibilities and Policy Implementation Scott Bessent will be responsible for implementing president-elect Donald Trump's pledges to cut taxes and raise tariffs.

These pledges form core elements of Trump's economic agenda. As Treasury secretary, Bessent oversees fiscal policy execution. The citizenship data collection order represents an early action under Bessent's leadership.

It intersects with broader immigration and financial regulatory efforts. Trump's tariff and tax cut plans require coordination across government agencies.

Background on Appointment Donald Trump's selection of Bessent occurred during the transition period following the election.

The Senate vote of 68-29 indicates the level of support for the nominee. S. economic strategy.