By Nupur Anand, Tatiana Bautzer and Chandni Shah
NON-citizens in the U.S. will face greater scrutiny on their banking activities following an executive order by President Donald Trump, but the directive was less extensive than a previous proposal floated by Treasury requiring banks to collect clients’ citizenship information.
The Trump administration has proposed a number of policies that have sideswiped banks, including the idea floated earlier in the year to collect citizenship data. In January, Trump also blindsided the industry by providers to cap interest rates in a bid to address cost-of-living concerns, and he has for discriminating against conservatives, a claim they deny.
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