{"id":2605029,"date":"2026-05-20T12:18:00","date_gmt":"2026-05-20T16:18:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-signs-sweeping-order-to-restrict-banking-access-to-illegal-aliens-over-crime-concerns\/"},"modified":"2026-05-20T12:24:00","modified_gmt":"2026-05-20T16:24:00","slug":"trump-signs-sweeping-order-to-restrict-banking-access-to-illegal-aliens-over-crime-concerns","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-signs-sweeping-order-to-restrict-banking-access-to-illegal-aliens-over-crime-concerns\/","title":{"rendered":"Trump Signs Sweeping Order to Restrict Banking Access to Illegal Aliens over Crime Concerns"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftrump-signs-sweeping-order-to-restrict-banking-access-to-illegal-aliens-over-crime-concerns%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2605029&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Donald Trump issued an executive order aimed at limiting how U.S.financial institutions serve illegal immigrants and handle cross-border fund transfers. The order argues that without proper know-your-customer controls, providing <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/why-cryptocurrency-hasnt-gone-to-war-with-russia-yet\/\" title=\"Why Cryptocurrency Hasn\u2019t Gone to War With Russia Yet\">basic financial services<\/a> and extending credit to inadmissible or removable people can <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/senate-report-claims-us-terrorist-watchlists-could-violate-a-travelers-rights\/\" title=\"Senate report suggests US terrorist watchlists may infringe on traveler&#039;s rights\">increase national security<\/a> and public safety risks, including support for terrorist financing, narcotics trafficking, and human trafficking.<\/p>\n<p>The accompanying fact sheet says the Treasury will direct financial institutions to tighten enforcement related to issues such as hiding true account ownership, payroll tax evasion, off-the-books wages, structuring schemes, labor trafficking, and using taxpayer IDs to open accounts or obtain credit without verified legal presence. It also calls for regulators to adjust rules and issue guidance to manage the credit risks of extending loans and services to people who lack work authorization, emphasizing that thes risks can undermine bank soundness and ultimately raise costs for consumers.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><br \/>\n<!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<section> \t\t\t\t<script>console.log(\"ad slot (AC1)\")<\/script><script>console.log(\"ad slot (IC1)\")<\/script><script>console.log(\"ad slot (IC2)\")<\/script><script>console.log(\"ad slot (IC3)\")<\/script><script>console.log(\"ad slot (IC4)\")<\/script><\/p>\n<p>President Donald Trump on Tuesday issued an executive order to protect U.S. financial institutions from illegal immigrants and foreign fund transfers that support crime.<\/p>\n<p>\u201cMy Administration will not tolerate national security and public safety risks caused by <a href=\"https:\/\/amzn.to\/3YuVZYV\" >illicit cross-border financial activity<\/a>, nor will it permit risks to our financial system posed by the extension of credit or financial services to the inadmissible and removable alien population,\u201d the <a href=\"https:\/\/www.whitehouse.gov\/presidential-actions\/2026\/05\/restoring-integrity-to-americas-financial-system\/\" target=\"_blank\" rel=\"noopener\">order<\/a> said.<\/p>\n<p>\u201cEven the provision of the most basic financial services, absent proper know-your-customer practices, can be abused to facilitate the funding of activities that pose significant threats to national security and public safety,\u201d the order added.<\/p>\n<p>\u201cLow-dollar cross-border funds transfers have been used to facilitate or commit terrorist financing, narcotics trafficking, human trafficking, and other illegal activity,\u201d Trump said, noting that Mexican-based cartels and Chinese money laundering networks have abused the financial system.<\/p>\n<p>The order further noted the risks associated with extending credit to illegal immigrants who may be deported.<\/p>\n<p>\u201cLending to aliens without legal work authorization or who face a substantial loss-of-wage risk creates a structural \u2018ability to repay\u2019 deficiency that undermines the safety and soundness of the national banking system,\u201d the order said.<\/p>\n<p>A <a href=\"https:\/\/www.whitehouse.gov\/fact-sheets\/2026\/05\/fact-sheet-president-donald-j-trump-restores-integrity-to-americas-financial-system\/\" target=\"_blank\" rel=\"noopener\">fact sheet<\/a> accompanying the order said Trump acted \u201cto protect America\u2019s financial system from illicit activity, strengthen customer identification requirements for financial institutions, and address the credit risks posed by extending financial services to non-work authorized illegal aliens.\u201d<\/p>\n<p>The fact sheet noted that Secretary of the Treasury Scott Bessent will issue guidance to financial institutions so they can crack down on \u201cpayroll tax evasion, concealment of true account ownership, off-the-books wage payments and structuring schemes, labor trafficking, and the use of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-makes-equitable-ppp-loans-easier-to-get-for-some-felons-ensures-access-for-non-citizen-small-business-owners\/\" title=\"Biden Makes \u2018Equitable\u2019 PPP Loans Easier To Get For Some Felons, Ensures Access For \u2018Non...Citizen\u2019 Small Business Owners\">individual taxpayer identification numbers<\/a> to open accounts or obtain credit without verified legal presence.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Trump moves to tighten banking access for non-citizens <a href=\"https:\/\/t.co\/0xumwDuTCf\">https:\/\/t.co\/0xumwDuTCf<\/a><\/p>\n<p>\u2014 TIME (@TIME) <a href=\"https:\/\/twitter.com\/TIME\/status\/2057042417732509700?\">May 20, 2026<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Ensuring banks know the real identity of their customers will also ensure \u201cinstitutions can identify the true owners of accounts when necessary to assess risks related to unlawful activity,\u201d the fact sheet said.<\/p>\n<p>The order also requires financial regulators to modify existing rules to reduce \u201crisks related to unlawful activity.\u201d<\/p>\n<p>Regulators will \u201cissue guidance on managing the credit risks of extending loans and financial services to illegal aliens without work authorization.\u201d<\/p>\n<p>The fact sheet said that when financial institutions do not know who their customers really are, \u201cterrorists, drug traffickers, money launderers, and other criminal networks\u201d can \u201cexploit U.S. financial institutions to move illicit funds and evade law enforcement.\u201d<\/p>\n<p>The fact sheet noted that giving credit to illegal immigrants who could be deported \u201ccreates structural credit risks that threaten the safety and soundness of the national banking system.\u201d<\/p>\n<p>\u201cEmployers of illegal aliens may underreport wages and evade payroll taxes, distorting the income data that underpins credit underwriting and obscuring risk across the financial system,\u201d the fact sheet said.<\/p>\n<p>\u201cWhen banks are forced to absorb these elevated credit risks, the costs are passed on to American consumers in the form of higher fees and interest rates \u2014 restoring sound underwriting standards puts money back in the pockets of law-abiding Americans.\u201d<\/p>\n<div style=\"background-color: #f7f7f7; color: #171717; display: flex;font-size: 16px;font-weight: 600;line-height: 1.5;margin: 24px 0;padding: 18px 20px 18px 30px;text-align: left;\">\n<div style=\"align-self: stretch;border-left: 3px solid #171717;flex-shrink: 0;padding-left: 20px;\"><\/div>\n<p><a style=\"text-decoration: none;\" href=\"https:\/\/www.google.com\/preferences\/source?q=https:\/\/www.westernjournal.com\/\">Choose The Western Journal as your preferred source on Google and never miss reporting that defends truth, protects freedom, and 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