Trump Tells Agencies to Advise Banks on Immigrant Services (1)

President Donald Trump signed an executive order Tuesday that directs regulators to issue guidance on banking services to undocumented migrants, in a move that could tighten access to the financial system amid the administration’s immigration crackdown.

The order directs the Treasury secretary and other financial regulators to “consider changes to the Bank Secrecy Act to strengthen customer identification program requirements, including accounting for the risks that foreign consular identification cards pose to the US financial system,” according to a White House fact sheet. That law requires banks to watch for signs of crime and then take action.

It ...