This new initiative is not what they say it is:
The Trump administration is discussing an executive order designed to force banks to collect citizenship data alongside other identification information from customers, according to multiple media reports.
The potential move would represent a significant new push in President Donald Trump’s effort to discourage undocumented migration to the US, and could impose substantial and unprecedented new mandates on financial institutions.
If you’ve been listening to Stephen Miller you know that he’s looking at all immigrants not just the undocumented. This would subject any non-citizen banking customer to special scrutiny and there are plenty of people who would rather not do that. After all, who knows what Trump will do next? Start seizing assets of foreigners? Don’t kid yourself. It could happen.
Foreigners should be very wary of using American banks if they do this. And that is a disaster for banks. I’ll be shocked if the banker boyz let this happen.