The Trump administration is considering requiring banks to collect customer citizenship information.

According to sources familiar with the matter, the Trump administration is considering the possibility of issuing an executive order or taking other actions to require banks to collect citizenship information from customers, which would be a new front in the Trump administration's efforts to crack down on illegal immigration in the United States. This action could ultimately require banks to request a new type of unprecedented document, such as a passport, from both new and existing customers who wish to maintain bank accounts in the United States. Discussions about this potential executive order have caused unease in the banking industry in recent days. Under the "Know Your Customer" rules, the U.S. banking industry is required to collect certain information to prevent money laundering and criminal activities. These rules do not specifically include collecting citizenship information, nor do they prohibit banks from opening accounts for non-citizens in the United States. The Trump administration has been pushing to reduce the number of illegal immigrants in the country and has strengthened enforcement efforts. A White House official stated that this potential executive order is currently being discussed within the Treasury Department and has not yet been approved. The government typically considers any ideas to be tentative until the president announces them. White House spokesperson Kush Desai said, "Reports about potential decisions that have not been officially announced by the White House are baseless speculation."