NEW YORK (AP) — The Treasury Department moved Friday to enlist the nation's banks more deeply in President Donald Trump's immigration crackdown, including issuing fresh guidance that lets banks rapidly share information about suspected customers and an advisory steering them to flag signs that one of their customers may lack legal immigration status.
These changes are part of the administration's push to remove undocumented workers from the nation's banking system without explicitly mandating that banks do so. In order to get banks to participate, the administration has framed these actions as a crackdown on fraud and crime, not explicitly about immigration.
"The information in your purview can help stop a cartel financier, disrupt a money laundering network, uncover labor exploitation, or protect taxpayers from fraud," Treasury Secretary Scott Bessent said in prepared remarks at a banking conference in Houston.
