Trump Administration Considers Requiring Banks to Collect Citizenship Information

The Trump (R) Administration is considering Executive Action that could Require Banks to Report more Information on the Citizenship of their Customers, the Latest Move by the White House, to Crack Down on Illegal Immigration.

The Steps under Consideration include a Potential Executive Order, Requiring Banks to Collect Information from All Customers, both New and Existing, and could Require New Forms of Documentation, such as a Passport, to Verify Citizenship.

Bank Executives and Industry Experts Fear the Potential new Documentation Requirements would Create New Impediments to obtaining Financial Services in the U.S., though People familiar with the Administration’s thinking, said the Details of any Forthcoming Order or similar Action have yet to be Decided.

It’s Not clear whether the Order would Require Banks to simply Collect more Information about their Customers, or go further by Closing the Accounts of Individuals who don’t have the added Documentation, such as a Valid Passport. Approximately Half the U.S. Population doesn’t have a Passport.

Officials within the Treasury Department were Working on the Initiative and Weighing Steps to Crack Down on Un-Documented Immigrants’ Access to Bank Accounts. “Any reporting about potential policymaking that has not been officially announced by the White House is baseless speculation," White House Spokesman Kush Desai (R) said.

Jeremy Kress, Associate Professor of Business Law at the University of Michigan, said the coming Order could Prevent many Legal Residents from accessing Traditional Banks, pushing them toward Highe Cost, Less Regulated Financial Services. “This is a way to weaponize the banking system to achieve political ends, which is exactly what the Trump administration criticized the Biden administration of doing with respect to climate and DEI,” He said.

The possible Executive Order would be the Latest Development in the Trump Administration’s Broader Immigration Crackdown. While the Department of Homeland Security (DHS) has been the Primary Agency, carrying out Trump's Mass Deportation Agenda, the Administration has sought other Ways to Collect Information on Immigrants.

The Washington Post Reported earlier this month, that the Internal Revenue Service (IRS) Improperly Shared Confidential Tax Information of Thousands of Individuals with Immigration Enforcement Officials. U.S. Immigration and Customs Enforcement (ICE) started a Nationwide Program in 12/2025 to Track 1.5 Million Undocumented Immigrants through Paid Contractors by using Remote Technologies and On-the-Ground Surveillance. (The lead contractor, however, said in January the contract is not being executed.)

The Justice Department (DOJ) last year, also began using a little-known Law to Criminally Charge Undocumented Immigrants, who Failed to Register their presence in the U.S. And the Social Security Administration (SSA) said in 11/2025, that it would be Sharing “citizenship and immigration information” with DHS.

Under Existing “know your customer” Rules, Banks are Rrequired to Collect the Name, Date-of-Birth, and Address of their Customers Information that is Typically on a Driver’s License and is meant to Prevent Money Laundering, and other types of Financial Misconduct.

But the Steps under Consideration go Beyond such Requirements, and could Require New and existing Customers to Prove their Citizenship Status. New Customers may be Barred from Opening Accounts without the Added Information. It’s Not Clear how the Order would Treat Accounts belonging to Non-Citizens who are in the Country Legally.










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