Administration weighs requiring banks to collect citizenship info, WSJ reports

President Trump’s administration is weighing a possible executive order or other action that would require banks to collect citizenship information from customers in “a new front in the administration’s crackdown on immigrants living in the U.S. illegally,” according to The Wall Street Journal’s Dylan Tokar and Natalie Andrews, citing people familiar with the matter. Ultimately, banks may be tasked with asking for an unprecedented new category of documents, such as a passport, from both new and pre-existing customers who want to maintain a U.S. bank account, the report stated. Publicly traded large cap banks include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).