Trump Administration Drafts Executive Order Requiring Banks to Collect Citizenship Data

Treasury Secretary Scott Bessent confirmed in April 2026 that an executive order requiring banks to collect citizenship documents from account holders was in process, following reports in February 2026 that the administration was drafting the order. Under the draft, banks would require passports or citizenship documents on top of existing Know Your Customer requirements, creating a citizenship verification layer for financial access. Privacy advocates and civil rights groups warned the order could expose non-citizen data to immigration enforcement and effectively debank millions of Americans.