Treasury Secretary Scott Bessent Pushes for Banks to Collect Citizenship Data
Treasury Secretary Scott Bessent has indicated that the Trump administration is preparing to issue an executive order requiring banks to collect citizenship data from customers. This move has faced resistance from banks, which argue that such a mandate may conflict with existing 'Know Your Customer' rules. The proposed policy is part of a broader effort to link immigration policy with data collection across various sectors.
Topics: banking_regulation citizenship_data immigration_policy Treasury_Department