Trump Executive Order Could Debank Millions of Americans

Newsweek - A Trump administration executive order that would require banks to collect citizenship information from customers is in "process," U.S. Treasury Secretary Scott Bessent said Monday, as experts warn it could leave millions of Americans without access to a bank account.

In an interview at the Semafor World Economy’s inaugural Treasury Secretary Dinner at the Library of Congress, Bessent said he didn't think the order would be "unreasonable."

"Why don’t we have information on who’s in our banking system? I have a place in the U.K.; they want to know who lives in every apartment—and how do we know that it’s not part of a foreign terrorist organization?" he said.