Treasury Secretary Confirms Executive Order on Banking Citizenship Verification in Process
The Treasury Secretary stated that an executive order requiring banks to collect citizenship information from customers is underway. The order responds to concerns about verifying identities in the banking system. It follows requests from lawmakers and aligns with broader immigration enforcement efforts.
america.cgtn.comTreasury Secretary Scott Bessent confirmed on April 13 that an executive order mandating banks to collect citizenship information on customers is in process. He made the statement during an interview with Semafor. S.
banking system. Bessent said the requirement is reasonable for security reasons. K. where authorities track residents in apartments to prevent links to foreign terrorist organizations. The policy could require banks to collect passports or similar documents, according to reports citing sources.
Lawmaker Request and Legal Basis In October 2025, Sen.
) sent a letter to Bessent urging a review of rules allowing individuals without legal status to access financial services. S. banking system should be reserved for those who respect laws and sovereignty.
He inquired whether the order could be implemented under the USA PATRIOT Act or the Bank Secrecy Act.
Story Timeline
5 events- April 13, 2026
Treasury Secretary Scott Bessent confirmed the executive order on banking citizenship verification is in process.
1 sourceZeroHedge - March 2026
The Trump administration established a task force to investigate benefits fraud by illegal immigrants.
1 sourceZeroHedge - March 22, 2026
The president linked ending DHS shutdown to passing the SAVE America Act with voting restrictions.
1 sourceZeroHedge - January 2025
The Trump administration began issuing orders to boost deportations and end temporary protections.
1 sourceZeroHedge - October 2025
Sen. Tom Cotton sent a letter urging review of banking access rules for those without legal status.
1 sourceZeroHedge
Potential Impact
- 01
Increased scrutiny could limit financial access for non-citizens without legal status.
- 02
Banks may need to update customer verification processes to collect citizenship data.
- 03
Administration's immigration focus may lead to more enforcement actions on entitlements.
- 04
Task force investigations may uncover instances of benefits fraud.
- 05
Stalled SAVE Act could prolong debates over voting security measures.
Transparency Panel
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