JOURNAL ARTICLE

What happens if banks start collecting citizenship details?

  • Published In: Time International - South Pacific Edition, 2026, v. 207, n. 15/16. P. 16 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Greene, Connor 3 of 3

Abstract

The article focuses on a forthcoming Executive Order, as announced by Treasury Secretary Scott Bessent, that would require American banks to collect citizenship information from their customers. While details remain unclear, the order aims to enhance oversight of who is in the U.S. banking system but raises concerns about potential barriers for noncitizens and some U.S. citizens who may lack readily available proof of citizenship. Experts highlight possible economic impacts and privacy risks, including fears that banks could be compelled to enforce immigration laws and that sensitive data might be shared across federal agencies. The measure is expected to face legal challenges and could affect millions of residents, including foreign-born individuals and citizens without standard identification documents. [Extracted from the article]

Additional Information

  • Source:Time International - South Pacific Edition. 2026/05, Vol. 207, Issue 15/16, p16
  • Document Type:Article
  • Subject Area:Politics and Government
  • Publication Date:2026
  • ISSN:0818-0628
  • Accession Number:193380111
  • Copyright Statement:Copyright of Time International - South Pacific Edition is the property of TIME USA, LLC and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

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