Trump drops citizenship data mandate for bank clients
President Trump signed an order to increase scrutiny on non-citizen banking. The directive drops a previous plan to require banks to collect citizenship data.
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United States President Donald Trump issued an executive order on Tuesday directing Treasury to help banks identify red flags for non-citizens instead of requiring universal citizenship data collection. The order replaces a broader Treasury proposal that would have mandated banks verify legal status for every account holder. This shift prevents a major compliance burden for lenders while preserving federal oversight of financial activity tied to labor trafficking and tax evasion.
