By Pete Schroeder, Tatiana Bautzer and Michelle Price
U.S. banks say they are largely in the dark about an expected White House order requiring them to collect data on their customers’ citizenship or immigration status, a directive senior industry executives warn would be costly and disruptive.
Treasury Secretary Scott Bessent told media outlet Semafor this month that the administration is working on the executive order, but did not provide details. It was first reported in February by the Wall Street Journal, which characterized the effort as an extension of the administration’s crackdown on immigrants living in the United States illegally.
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