Treasury Secretary Scott Bessent said that a proposed executive order that would require banks to collect citizenship information is “in process” in an interview this week with Semafor.
“And I don’t think it’s unreasonable, because why don’t we have information on who’s in our banking system?” the Trump official told the outlet Monday. “I have a place in the UK; they want to know who lives in every apartment — and how do we know that it’s not part of a foreign terrorist organization?”
The draft executive order was first reported on earlier this year, and it would require banking institutions to request additional identification documents from customers. This would be the latest in the Trump administration’s efforts to crack down on illegal immigration.
Semafor reported in February that REAL IDs would not be considered eligible documents under this new documentation requirement, as they do not prove citizenship.
The move has received some support from Republicans.
