Trump Administration Considers Mandating Citizen Identification Collection by Banks

The Trump administration is reportedly exploring measures, potentially through an executive order, that would require U.S. banks to systematically collect citizen identification information from their customers. Sources familiar with the matter indicate that the U.S. Treasury Department is leading this assessment. The proposed policy could mandate that both new and existing account holders provide additional identity verification documents, such as passports, as a prerequisite for opening or maintaining bank accounts in the United States. This initiative is seen as an extension of the White House's efforts to curb illegal immigration by targeting the financial system. Specific details regarding the implementation timeline and execution have not yet been officially released.

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