Money
Treasury Secretary Bessent Urges Banks to Gather Citizenship Data
In a recent statement, Treasury Secretary Scott Bessent indicated that the Trump administration is pushing for banks to gather citizenship information from their customers.
editorial-staff
1 min read
Updated about 3 hours ago
Summary
Treasury Secretary Scott Bessent has announced that the Trump administration is preparing banks for a new compliance requirement.
This requirement involves collecting citizenship information from customers, a move that could impact banking practices.
The administration's expectations suggest a significant shift in how financial institutions handle customer data.
Updates
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