Trump orders banks to check customers' citizenship status — Wednesday 20 May 2026President Donald Trump has signed an executive order directing banks and financial institutions to verify the citizenship status of their customers as part of a broader effort to restrict access to services for individuals living in the United States without legal authorization. The measure builds on existing immigration enforcement priorities and requires banks to enhance screening processes during account openings and routine transactions. Officials say the policy aims to limit the ability of undocumented residents to participate in the formal financial system, though details on implementation and enforcement timelines remain under development by federal regulators. The order carries significant implications beyond American borders. Many global citizens, including international students, expatriate workers, and families reliant on cross-border remittances, could face added scrutiny or delays when dealing with U.S. banks. Countries in Latin America and parts of Asia that depend heavily on transfers from relatives in the United States are watching closely, as even temporary disruptions in banking access could affect household incomes and local economies. European financial partners have also expressed concern that stricter compliance rules may complicate joint operations and data-sharing agreements already strained by differing privacy standards. From a geopolitical standpoint, the policy underscores the United States’ willingness to leverage private-sector institutions in immigration control, a tactic that risks isolating Washington from traditional allies who favor multilateral approaches to migration management. Critics argue it may encourage parallel informal financial networks, while supporters view it as a necessary step to reinforce national sovereignty. As banks begin adapting their procedures, the long-term effects on global financial flows and diplomatic relations will depend on how flexibly the order is applied in practice.Watch the full video from Associated Press below.