U.S. Banks May Begin Verifying Customers’ Citizenship

The Trump administration is considering issuing an executive order that could require banks to collect information about customers’ citizenship, request additional documentation (such as a passport), and apply new rules to both new and existing account holders.

According to sources, the initiative is being discussed as part of broader efforts to strengthen immigration enforcement.

It is important to note that the order has not been signed and its details have not been finalized. The White House has not confirmed that such a measure is being prepared.

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

It remains unclear whether the proposed action would be limited to collecting additional information or could extend to stricter measures, including the possible closure of accounts if the required documentation is not provided.

Currently, banks are required to collect customer information under Know Your Customer (KYC) rules, including name, date of birth, and address. The proposed measures could significantly expand these existing requirements.