Treasury Secretary Scott Bessent said an executive order mandating banks to collect citizenship information from their customers is “in process,” according to news outlet Semafor.
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That planned executive action would represent a significant new push in President Donald Trump’s effort to discourage undocumented migration to the US, and could impose substantial new mandates on financial institutions.
Citizenship documents aren’t currently necessary to open a bank account in the US. In the European Union, banks commonly accept a national ID card in place of a passport, though citizenship verification is more common in other nations.
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