Trump Signs Executive Order on May 19 to Heighten Scrutiny of Noncitizen U.S. Banking Activities

According to BlockBeats, President Trump signed an executive order on May 19 to impose heightened scrutiny on noncitizen banking activities in the U.S. Per the White House, Trump directed the Treasury Department to issue formal guidance to financial institutions requiring identification and reporting of suspicious behaviors, including tax evasion, concealed account ownership, and off-books wage payments. The order mandates Treasury, the Consumer Financial Protection Bureau, and federal financial regulators to finalize new rules within 60 to 180 days.
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