Bessent Says Bank Citizenship Verification Order is ‘In Process’

Treasury Secretary Scott Bessent said an executive order mandating banks to collect citizenship information from their customers is “in process,” according to news outlet Semafor.

“I don’t think it’s unreasonable, because: Why don’t we have information on who’s in our banking system?,” a Semafor reporter quoted Bessent saying at a Monday dinner hosted by the news outlet in Washington. “I have a place in the UK; they want to know who lives in every apartment.”

That planned executive action would represent a significant new push in President Donald Trump’s effort to discourage undocumented migration to the US, and could ...