Trump Administration Plans to Require Banks to Check Customers' Citizenship

The American government administration under Donald Trump is analyzing the introduction of restrictive regulations that would force banks to verify the citizenship of their customers. The proposed changes, first reported by "The Wall Street Journal," could take the form of an executive order or guidelines from the Treasury Department. The main goal of the operation is to identify individuals residing in the United States illegally and to hinder their functioning in the official economic circulation. Currently, federal law does not prohibit non-citizen foreigners from opening accounts, and Know Your Customer procedures focus on identity, not immigration status. The planned restrictions would cover not only new individuals opening accounts but also current account holders. Bankers fear that the necessity to demand passports from millions of Americans will create enormous bureaucratic barriers and violate the right to financial privacy. Legal experts further indicate that the president may encounter difficulties unilaterally introducing such requirements without congressional approval. Changing the fundamental principles of banking would likely require going through a lengthy administrative procedure that could take up to two years. Since the enactment of the USA PATRIOT Act in 2001, banks in the United States have been burdened with broad obligations to monitor customers to combat terrorism financing, but they have never before served as immigration control authorities. The White House's reaction to these reports remains restrained. An administration spokesperson described the leaks as "baseless speculation," emphasizing that official decisions have not yet been announced. Nevertheless, four independent sources confirm that discussions on this topic are advanced. Business circles warn of capital outflow and system destabilization if a significant group of consumers is suddenly excluded from the financial services market. Social organizations, in turn, announce a fight in the courts, arguing that the administration is exceeding its executive powers. „Any reporting about potential policymaking that has not been officially announced by the White House is baseless speculation.” — Kush Desai

Perspektywy mediów: Emphasizes the exclusion of minorities, violation of privacy, and potential legal chaos resulting from the president exceeding his authority. Highlights tightening the system, fighting illegal immigration, and the necessity for better control over who uses American banks.