Trump admin weighs order requiring banks to collect citizenship data

While there are no rules against non-citizens opening bank accounts in US, a requirement to produce a passport or similar documentation could provide a new barrier for those in the country illegally

By Catherine Lucey and Katanga Johnson

 

The Trump administration is discussing an executive order designed to force banks to collect citizenship data alongside other identification information from customers, according to multiple media reports. 

The potential move would represent a significant new push in President Donald Trump’s effort to discourage undocumented migration to the US, and could impose substantial and unprecedented new mandates on financial institutions. 

 

The order, reported by the Wall Street Journal and Semafor, could apply to not only new customers but existing account holders. While there are not currently rules against noncitizens opening bank accounts in the US, a requirement to produce a passport or similar documentation could provide a new barrier for those in the country illegally.

 

 

Although citizenship documents aren’t currently necessary to open a bank account in the US, and the EU commonly accepts a national ID card in place of a passport, the requirement is more common in other nations. 

 

“Any reporting about potential policymaking that has not been officially announced by the White House is baseless speculation,” said White House spokesman Kush Desai.

 

The American Bankers Association and Bank Policy Institute declined to comment. The Treasury Department did not respond to a request for comment.

 

Trump has previously issued executive orders seeking to tighten access to state and federal systems, including an executive order requiring citizenship verification on national mail-in voter registration forms and regulations prohibiting certain immigrants from holding or renewing commercial drivers’ licenses.