Treasury Secretary Scott Bessent is preparing banks to collect citizenship data [View all]

[Munu]

Treasury Secretary Scott Bessent is preparing banks to collect citizenship data (CNBC)

Banks in the U.S. may not like the idea of being forced to collect citizenship data on customers, but Treasury Secretary Scott Bessent says they better be prepared for the task.

“If Treasury and the banking regulators say it’s their job, it’s their job,” Bessent told CNBC’s Sara Eisen at the Invest in America Forum in Washington, D.C., on Wednesday.

An executive order that has been discussed for months took a step closer to reality earlier this week when Bessent said in an interview with Semafor that the EO is “in process.”

The planned EO is one more plank in President Donald Trump’s broader effort to tie his immigration policy to collection of information in the United States, including for voting and Census efforts.

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