FILE-President Donald Trump holds a Press Conference in the James S. Brady Press Briefing Room at the White House on April 6, 2026 in Washington D.C. (Photo by Chen Mengtong/China News Service/VCG via Getty Images)
An executive order by President Donald Trump will place greater examination on the banking activities of non-citizens in the United States.
The latest order directs banks and government agencies to look for signs that individuals without legal status are opening accounts or obtaining loans or credit cards.
RELATED: Trump administration proposes citizenship question in test for 2030 census
According to the Associated Press, in the order, the White House crafted the decision that banks would face credit risks if one of their customers were deported and any loans could no longer be repaid.
Non-citizens bank activity evaluated
Dig deeper:
Reuters reported that President Donald Trump’s executive order requires the Treasury secretary to issue an advisory to banks to pinpoint red flags connected to payroll tax evasion, hiding of true account ownership, off-the-books wage payments, and the use of individual taxpayer identification numbers to open accounts or obtain credit without verified legal presence in the U.S.
One of the examples of reg flags referenced in Trump’s order are bank accounts under the names of shell companies and use of certain platforms to disguise wage payments and redundant cash withdrawals.
Additionally, the order outlines that the use of Individual Taxpayer Identification Numbers should also be flagged when not accompanied by a Social Security number or a work visa.
Separately, banks were deliberating on whether checking the immigration status and citizenship of current customers would be tough, with Reuters reporting that trade groups expressed that such an order might result in the debanking of millions of consumers and minimizing financial access to people.
This latest executive order follows action taken by the Trump administration to prevent undocumented workers from utilizing the financial system.
The Associated Press reported that in November 2025, the Treasury Department announced it would recategorize some refundable tax credits "as federal public benefit," which prohibits some immigrant taxpayers from getting them, even if they file and pay taxes and would qualify.
The Source: Information for this story was provided by Reuters and The Associated Press. This story was reported from Washington, D.C.