‘Alarms’: Trump’s bank order plan sends financial institutions into panic mode

Photo: President Donald Trump attends the National Governors Association breakfast in the State Dining Room, Friday, February, 20, 2026. Photo credit: Official White House photo by Joyce N. Boghosian via Flickr. US government work. Article by Robert Davis. Raw Story – February 24, 2026.

President Donald Trump has alarmed banks after floating his latest executive order idea, according to a new report. The Wall Street Journal reported on Tuesday that the Trump administration is considering issuing an executive order requiring banks to collect citizenship information from customers. It is part of the administration’s broader push to crack down on illegal immigration and would require banks to verify customers’ passports and other legal documents to maintain their accounts. […]

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