Treasury Secretary Scott Bessent this week urged banking industry officials to pursue one basic border security plan that President Donald Trump wants: Debanking for illegal aliens.
“This administration will not tolerate blatant abuse of our financial system, nor will it permit risks posed by the extension of financial services to illegal aliens,” Bessent told an assembly of Arizona bank representatives this week.
“We do not ask bankers to assume the burdens of border enforcement," Bessent said. "But we depend on banks to do what you do best: know your customers, identify risks as they arise, and report suspicious patterns before they metastasize into criminal schemes."
A report at the Washington Examiner documented the background: That Trump had signed an executive order weeks ago requiring banks to report payroll tax evasion, suspected shell companies and the unverified use of an individual taxpayer identification number.
Trump Treasury pushes banks to stop doing business with illegal immigrants https://t.co/0CNgiYpUEd
— Washington Examiner (@dcexaminer) August 8, 2026
Trump Admin Taps Surprising New Partner To Combat Illegal Immigration "We depend on banks to do what you do best: know your customers, identify risks as they arise." pic.twitter.com/qNl0iTBM6l
— 850 WFTL (@850WFTL) August 7, 2026
The effort has been part of the crackdown on illegal entry into the United States Trump has assembled during his second term.
The White House during this time has imposed regulations and taken executive action aimed at making it harder for illegal immigrants to continue to reside in the country by restricting access to banks.
The report noted the end goal is that illegal aliens will self-deport, rather than waiting for federal law enforcement to catch up.
During Trump’s first term, the report said, border lockdowns and such were pre-eminent.
“This term, he has pulled in more than a dozen federal departments to tackle the issue from all angles, including the Treasury Department,” the report said.
The debanking effort actually began earlier with a requirement for banks to review the citizenship of customers, meaning those without authorization to be in the U.S. might not be able to access loans and other services.
Banking corporations had been advised earlier how to watch for banking patterns that indicate illegal labor, labor brokers, payroll tax evasion and such.
The earlier announcement about the crackdown plans:
🚨 JUST IN: President Trump announces executive order directing Sec. Scott Bessent to *SHUT DOWN* bank accounts used to facilitate illegal immigration or to give illegal aliens welfare
— QUANTUM GUARD ™️ (@QuantumGuard17) July 10, 2026
Trump is moving to DE-BANK illegals
LET'S GO, LONG OVERDUE 🔥
"Funds will ultimately face… pic.twitter.com/BI4avLr8yk
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