Trump Executive Order Could Lead to 'Debanking' of Millions of Americans
A proposed executive order from the Trump administration could require banks to collect citizenship information from customers, potentially leaving millions of Americans without access to banking services. U.S. Treasury Secretary Scott Bessent stated that the order is in process, aiming to ensure that only legal residents have access to the U.S. banking system. The order would require banks to request identification documents, such as passports or birth certificates, from both new and existing customers. Critics warn that this could disproportionately affect vulnerable populations, including elderly Americans, low-income individuals, and those without easy access to documentation. 
