NewsNBC Miami PoliticsMay 20, 2026Miami-Dade County
President Trump Signs Executive Order on Bank Customer Citizenship Checks
President Donald Trump signed an executive order directing bank regulators to monitor for financial risks associated with undocumented immigrants holding bank accounts or loans. The order serves as guidance rather than a mandatory requirement for banks to collect citizenship data, following months of industry lobbying against stricter reporting mandates.
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The order establishes a new federal focus on the immigration status of bank customers, potentially altering how financial institutions assess credit risk for individuals using Individual Taxpayer Identification Numbers (s).
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