Trump orders banks to scrutinize non-citizen activity
President Trump ordered banks to flag suspicious non-citizen activity. The directive focuses on tax evasion and ITIN use rather than full citizenship data.
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President Donald Trump issued an executive order on Tuesday requiring the United States Treasury to increase scrutiny on banking activities of non-citizens. The directive replaces a more aggressive proposal that would have forced banks to collect citizenship data for all clients. Industry and regulators had warned that such a requirement would be costly and disruptive.
