President Donald Trump signs an executive order directing banks to more closely examine customers’ citizenship status, as the administration pursues a campaign promise to crack down on people living in the country illegally. Multiple reports say the order instructs the U.S. Treasury Department to issue formal advisories to financial institutions. Those advisories are expected to outline “red flags” that could indicate a customer may not be lawfully present, alongside guidance on how banks should incorporate the citizenship checks into their customer screening or compliance processes.
The outlets also note that the order is framed as an immigration-enforcement measure and can be viewed as part of a broader crackdown effort, according to the reports. While the coverage focuses on the executive order’s requirement for banks to scrutinize citizenship, details of how exactly banks will implement the changes are described more generally, with emphasis on Treasury’s forthcoming advisories rather than specific bank procedures at the time of reporting.
