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Trump team weighs order to force banks to make sure customers are citizens to keep or create accounts
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Tony Bark pawb.social tonytins@pawb.social
Joined: 2023-06-04
Quote

Donald Trump is considering a possible executive order that would require banks to make sure customers are U.S. citizens to create or keep their accounts, according to a new report.

The proposed action, reported byThe Wall Street Journal, would see banks collect information on individuals’ citizenship through requests for a new category of documents in order to open the accounts.

The Independent has contacted the White House for confirmation or further information about reports of the executive order, which has reportedly raised eyebrows among some banks in recent days.

322   Original
FilesForWallabies piefed.social mracton@piefed.social
Joined: 2025-07-28
#2 · Quote Reply

It’s long past time to kill executive orders. Even the times they are used for good, they are often legally dubious and live on the whims of the courts.

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9tr6gyp3 lemmy.world 9tr6gyp3@lemmy.world
Joined: 2023-06-16
#3 · Quote Reply

Damn, thats crazy.

Did he release all the Epstein files yet?

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dogslayeggs lemmy.world dogslayeggs@lemmy.world
Joined: 2023-07-17
#4 · Quote Reply

So what would happen to all of those bank accounts of people on work visas?

35
ccunning lemmy.world ccunning@lemmy.world
Joined: 2023-06-01
#5 · Quote Reply

So what would happen to all of those bank accounts of people on work visas?

…or legal permanent residents…

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Optional lemmy.world homesweethomeMrL@lemmy.world
Joined: 2023-07-09
#6 · Quote Reply

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just2look lemmy.zip just2look@lemmy.zip
Joined: 2025-06-14
#7 · Quote Reply

It’s long past time to kill executive orders. Even the times they are used for good, they are often legally dubious and live on the whims of the courts.

They need to go back to what they were originally intended to be. It wasn't supposed to be a way to enact new laws, it was meant to give agencies direction on how to go about enacting and enforcing laws passed by congress.

The whole system is broken and corrupt though. So no simple fixes for any of the issues unless you consider tear it all down and start fresh as simple.

44
StinkyFingerItchyBum lemmy.ca Thedogdrinkscoffee@lemmy.ca
Joined: 2025-02-26
#8 · Quote Reply

What a shithole. But, in a weird silver lining sort of way, part of me doesn't mind the government hurting banks and more of the economy going underground out of reach of taxation.

10
kingofras lemmy.world kingofras@lemmy.world
Joined: 2024-05-13
#9 · Quote Reply

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groupofcrows lemmy.ca groupofcrows@lemmy.ca
Joined: 2023-06-13
#10 · Quote Reply

Bank runs are great for the economy

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oddpixel lemmy.wtf oddpixel@lemmy.wtf
Joined: 2026-02-22
#11 · Quote Reply

Let's pretend this passes and becomes law. Now imagine a nationwide call for people to do a run on their bank, and pull out all their money. Even when the banks try to limit withdrawals, it doesn't mean you can't come back at some point and keep withdrawing.

Not everyone would do it, but eventually the news would be running in panic mode, as would investors.

I'd imagine the banks would be keen to demand a reversal of the law real quick..

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11111one11111 lemmy.world 11111one11111@lemmy.world
Joined: 2023-11-19
#12 · Quote Reply

Do you want to collect less in taxes? Cuz this is how you encourage cash under the table compensation agreements. Fuck it, make it a law you have to be a citizen to own a home, trade stocks and buy anything that is not food. Ill get my citizenship from Niue where they have an average annual population growth rate of 1 person per year and ill go full on undocumented illegal who follows the lae by not paying taxes!

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ohellidk sh.itjust.works ohellidk@sh.itjust.works
Joined: 2023-06-12
#13 · Quote Reply

Let's pretend this passes and becomes law. Now imagine a nationwide call for people to do a run on their bank, and pull out all their money. Even when the banks try to limit withdrawals, it doesn't mean you can't come back at some point and keep withdrawing. Not everyone would do it, but eventually the news would be running in panic mode, as would investors. I'd imagine the banks would be keen ...

If only people worked together like that, we'd do amazing things.

27
Fred lemmy.world DevotedShitStain69@lemmy.world
Joined: 2025-04-26
#14 · Quote Reply

Why is that pedophile not in prison yet?

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Munkisquisher lemmy.nz Munkisquisher@lemmy.nz
Joined: 2023-07-01
#15 · Quote Reply

So what would happen to all of those bank accounts of people on work visas?

Hell even my travel Wise card gives me a local US bank acct number, I don't even have a visa

6
UnspecificGravity piefed.social UnspecificGravity@piefed.social
Joined: 2025-12-03
#16 · Quote Reply

So what would happen to all of those bank accounts of people on work visas?

OR just all the thousands of people from other countries that do business with the US.

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Munkisquisher lemmy.nz Munkisquisher@lemmy.nz
Joined: 2023-07-01
#17 · Quote Reply

Let's pretend this passes and becomes law. Now imagine a nationwide call for people to do a run on their bank, and pull out all their money. Even when the banks try to limit withdrawals, it doesn't mean you can't come back at some point and keep withdrawing. Not everyone would do it, but eventually the news would be running in panic mode, as would investors. I'd imagine the banks would be keen ...

Sharemarket too, I'd have to sell my US shares without my brokerage bank acct (I don't live in the US)

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Tinks lemmy.world Tinks@lemmy.world
Joined: 2023-06-27
#18 · Quote Reply

…or legal permanent residents…

Seriously! Anyone who thinks about this for half a second realizes the repercussions of only allowing US citizens bank accounts. Are we just eliminating immigration entirely now? Immigrants have to prove that they are financially self-sufficient and doing that without a bank account is... effectively impossible. Every legal permanent resident would be immediately unable to function in society. Most jobs require direct deposit into a bank account these days and won't issue paper checks. How do you even pay rent or a mortgage without a bank account.

It would be absolute chaos.

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Rhaedas fedia.io Rhaedas@fedia.io
Joined: 2024-03-03
#19 · Quote Reply

Seriously! Anyone who thinks about this for half a second realizes the repercussions of only allowing US citizens bank accounts. Are we just eliminating immigration entirely now? Immigrants have to prove that they are financially self-sufficient and doing that without a bank account is... effectively impossible. Every legal permanent resident would be immediately unable to function in society. ...

It would be absolute chaos.

So a Trump Presidency term.

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Pricklesthemagicfish reddthat.com Pricklesthemagicfish@reddthat.com
Joined: 2026-02-17
Banned
#20 · Quote Reply

So what would happen to all of those bank accounts of people on work visas?

Lol idk imagine they are a giant oil ship from venezuela.

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ChonkyOwlbear lemmy.world ChonkyOwlbear@lemmy.world
Joined: 2023-06-24
#21 · Quote Reply

They can open up Cayman Island bank accounts just like the billionaire tax evaders.

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Lodespawn aussie.zone Lodespawn@aussie.zone
Joined: 2023-10-18
#22 · Quote Reply

It would be absolute chaos. So a Trump Presidency term.

Can you even cash a cheque without a bank account?

1
Rhaedas fedia.io Rhaedas@fedia.io
Joined: 2024-03-03
#23 · Quote Reply

Can you even cash a cheque without a bank account?

Yes, but only at select places, maybe some banks but usually a check cashing place, and they charge a big cut of the check.

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𝕱𝖎𝖗𝖊𝖜𝖎𝖙𝖈𝖍 lemmy.world Witchfire@lemmy.world
Joined: 2023-10-07
#24 · Quote Reply

So if someone is a permanent resident are they just expected to keep their money under their mattress?

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Lodespawn aussie.zone Lodespawn@aussie.zone
Joined: 2023-10-18
#25 · Quote Reply

Yes, but only at select places, maybe some banks but usually a check cashing place, and they charge a big cut of the check.

😬

3
Rhaedas fedia.io Rhaedas@fedia.io
Joined: 2024-03-03
#26 · Quote Reply

😬

Then there's the racket of paycheck lending places, where you get an advance on your next check for a big fee/interest. A brief solution for those who are that desperate for money now, but it digs a deep hole that many fall into.

5
Jo Miran lemmy.ml JoMiran@lemmy.ml
Joined: 2023-06-29
#27 · Quote Reply

He truly is the stupidest man I've ever heard of...and I knew a guy who boiled his sliced bread because the toaster was broken (true story, and he procreated...a lot).

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pivot_root lemmy.world pivot_root@lemmy.world
Joined: 2023-07-31
#28 · (edited) Quote Reply

So if someone is a permanent resident are they just expected to keep their money under their mattress?

Their what now? That's ICE's money. After the pulled the immigrant out of his bed, that money was just laying there. Nobody owns it, so it's finders keepers. /s

17
Paragone lemmy.world Paragone@lemmy.world
Joined: 2023-12-06
#29 · Quote Reply

I'm certain that suddenly de-banking all green-card holders will .. do wonders for the US's innovation-position, globally .. won't it?


Ideology masquerading as "thinking" never legislates properly.

Bullying idiots, with their oversimplification "reality" they're doing their bullying in.

_ /\ _

43
someguy3 lemmy.world someguy3@lemmy.world
Joined: 2023-07-04
#30 · Quote Reply

So what would happen to all of those bank accounts of people on work visas?

Profit!

5
Maeve kbin.earth Maeve@kbin.earth
Joined: 2024-06-16
#31 · Quote Reply

But Deutsch is free to keep the money flowing to POTUS, family, and friends!

5
Maeve kbin.earth Maeve@kbin.earth
Joined: 2024-06-16
#32 · Quote Reply

Do you want to collect less in taxes? Cuz this is how you encourage cash under the table compensation agreements. Fuck it, make it a law you have to be a citizen to own a home, trade stocks and buy anything that is not food. Ill get my citizenship from Niue where they have an average annual population growth rate of 1 person per year and ill go full on undocumented illegal who follows the lae b...

I'm fairly sure that's the point.

3
Maeve kbin.earth Maeve@kbin.earth
Joined: 2024-06-16
#33 · Quote Reply

What a shithole. But, in a weird silver lining sort of way, part of me doesn't mind the government hurting banks and more of the economy going underground out of reach of taxation.

The tax man brought down Capone.

3
Maeve kbin.earth Maeve@kbin.earth
Joined: 2024-06-16
#34 · Quote Reply

Seriously! Anyone who thinks about this for half a second realizes the repercussions of only allowing US citizens bank accounts. Are we just eliminating immigration entirely now? Immigrants have to prove that they are financially self-sufficient and doing that without a bank account is... effectively impossible. Every legal permanent resident would be immediately unable to function in society. ...

Women are next.

10
Maeve kbin.earth Maeve@kbin.earth
Joined: 2024-06-16
#35 · Quote Reply

Yes, but only at select places, maybe some banks but usually a check cashing place, and they charge a big cut of the check.

Walmart will fare well.

2
funkless_eck sh.itjust.works funkless_eck@sh.itjust.works
Joined: 2023-08-07
#36 · Quote Reply

So what would happen to all of those bank accounts of people on work visas?

I wouldn't mind if they write off my mortgage.

2
OwOarchist pawb.social OwOarchist@pawb.social
Joined: 2026-02-13
#37 · Quote Reply

I'm certain that suddenly de-banking all green-card holders will .. do wonders for the US's innovation-position, globally .. won't it? Ideology masquerading as "thinking" never legislates properly. Bullying idiots, with their oversimplification "reality" they're doing their bullying in. _ /\ _

Corporations are not citizens, so all corporate accounts are toast as well, right?

22
gravitas_deficiency sh.itjust.works gravitas_deficiency@sh.itjust.works
Joined: 2023-06-20
#38 · (edited) Quote Reply

Yeah that’s gonna generate an absolute shitload of lawsuits.

Also, way to go speeding the shift away from the USD as the de facto global reserve currency. Jesus tapdancing christ.

49
OwOarchist pawb.social OwOarchist@pawb.social
Joined: 2026-02-13
#39 · Quote Reply

They need to go back to what they were originally intended to be. It wasn't supposed to be a way to enact new laws, it was meant to give agencies direction on how to go about enacting and enforcing laws passed by congress. The whole system is broken and corrupt though. So no simple fixes for any of the issues unless you consider tear it all down and start fresh as simple.

It wasn’t supposed to be a way to enact new laws, it was meant to give agencies direction on how to go about enacting and enforcing laws passed by congress.

EOs should be considered dead on arrival and unenforceable unless they begin and end by listing which laws passed by Congress they're meant to enforce and enact.

20
StinkyFingerItchyBum lemmy.ca Thedogdrinkscoffee@lemmy.ca
Joined: 2025-02-26
#40 · (edited) Quote Reply

The tax man brought down Capone.

But didn't bring down Musk, Gates, Bezos, Thiel, Trump and many many more.

4
Maeve kbin.earth Maeve@kbin.earth
Joined: 2024-06-16
#41 · Quote Reply

But didn't bring down Musk, Gates, Bezos, Thiel, Trump and many many more.

I suspect it depends who you do and don't anger.

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ulkesh piefed.social ulkesh@piefed.social
Joined: 2026-01-02
#42 · Quote Reply

Just waiting for that inevitable heart attack…

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leftzero lemmy.dbzer0.com leftzero@lemmy.dbzer0.com
Joined: 2025-06-08
#43 · (edited) Quote Reply

Their what now? That's ICE's money. After the pulled the immigrant out of his bed, that money was just laying there. Nobody owns it, so it's finders keepers. /s

No need for the /s. In the Land of the Free the swine can just keep it. Legally.

(Technically it has to be involved in a crime, but ICE are criminals, so anything they do is by definition involved in a crime. And it's not like technicalities have ever stopped other pig breeds from stealing people's cash anyway.)

7
leftzero lemmy.dbzer0.com leftzero@lemmy.dbzer0.com
Joined: 2025-06-08
#44 · Quote Reply

Do you want to collect less in taxes? Cuz this is how you encourage cash under the table compensation agreements. Fuck it, make it a law you have to be a citizen to own a home, trade stocks and buy anything that is not food. Ill get my citizenship from Niue where they have an average annual population growth rate of 1 person per year and ill go full on undocumented illegal who follows the lae b...

Do you want to collect less in taxes?

I'm sure they plan to make it up with civil asset forfeiture (i.e., theft).

If the victim has their cash under the table they can steal it more easily than if it's in the bank. And with a harder to track paper trail. Easier for it to get lost and end up in Trump's pocket.

2
pivot_root lemmy.world pivot_root@lemmy.world
Joined: 2023-07-31
#45 · Quote Reply

No need for the /s. In the Land of the Free the swine can just keep it. Legally. (Technically it has to be involved in a crime, but ICE are criminals, so anything they do is by definition involved in a crime. And it's not like technicalities have ever stopped other pig breeds from stealing people's cash anyway.)

I didn't even need to click on the link to know it pointed to civil forfeiture. The fact that they're not required to destroy whatever they steal creates one hell of a perverse incentive to keep doing it.

3
Cort lemmy.world Cort@lemmy.world
Joined: 2023-09-06
#46 · Quote Reply

Yeah that’s gonna generate an absolute shitload of lawsuits. Also, way to go speeding the shift away from the USD as the de facto global reserve currency. Jesus tapdancing christ.

Draining the courts' resources AND make daddy putin happy, sounds like a win-win for Trump

17
Lodespawn aussie.zone Lodespawn@aussie.zone
Joined: 2023-10-18
#47 · Quote Reply

Then there's the racket of paycheck lending places, where you get an advance on your next check for a big fee/interest. A brief solution for those who are that desperate for money now, but it digs a deep hole that many fall into.

Yeah I've heard about those, I don't think they are quite as big here in Australia, or get away with as much.

1
michaelmrose lemmy.world michaelmrose@lemmy.world
Joined: 2023-07-23
#48 · Quote Reply

Let's pretend this passes and becomes law. Now imagine a nationwide call for people to do a run on their bank, and pull out all their money. Even when the banks try to limit withdrawals, it doesn't mean you can't come back at some point and keep withdrawing. Not everyone would do it, but eventually the news would be running in panic mode, as would investors. I'd imagine the banks would be keen ...

Can we cause essentially a run on the bank by having 40% of us move all our liquid assets to euros at once and continuing to move incoming money to cash?

2
WoodScientist lemmy.world WoodScientist@lemmy.world
Joined: 2024-09-06
#49 · Quote Reply

Let's pretend this passes and becomes law. Now imagine a nationwide call for people to do a run on their bank, and pull out all their money. Even when the banks try to limit withdrawals, it doesn't mean you can't come back at some point and keep withdrawing. Not everyone would do it, but eventually the news would be running in panic mode, as would investors. I'd imagine the banks would be keen ...

You wouldn't even need to organize some mass campaign to get people to pull money out. This thing will trigger a bank run all on its own. Do you think the banks have enough reserves to immediately cash out the accounts of every non-citizen? Sometimes a bank decides it doesn't want to do business with someone anymore and will close their account. If that happens to you, they send you a check with your account balance on it. But we're talking tens of millions of people here, many with substantial amounts in US accounts. This order, if implemented, would cause every bank in the country to collapse. They just don't maintain the reserves to cash out that many accounts all at once.

19
Armok_the_bunny lemmy.world Armok_the_bunny@lemmy.world
Joined: 2023-06-21
#50 · Quote Reply

No need for the /s. In the Land of the Free the swine can just keep it. Legally. (Technically it has to be involved in a crime, but ICE are criminals, so anything they do is by definition involved in a crime. And it's not like technicalities have ever stopped other pig breeds from stealing people's cash anyway.)

Correction, it doesn't need to be involved in a crime, the cops just need to pretend to think it might have been.

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Tollana1234567 lemmy.today Tollana1234567@lemmy.today
Joined: 2025-06-04
#51 · Quote Reply

Damn, thats crazy. Did he release all the Epstein files yet?

no, but he likes to uses EOs as distraction from epstein.

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