Former President Trump signed a new order 2 days ago, planning to scrutinize foreign individuals' banking transactions in the US.

On May 22, reports confirmed that President Trump signed an executive order on May 19, imposing stricter scrutiny on "non-citizens" operating in the U.S. banking system. Per information from the White House website, Trump has ordered the U.S. Department of the Treasury to issue formal guidance to financial institutions, directing them to identify and report suspicious activities such as wage tax evasion, hidden account ownership, off-payroll wage payments, and other related violations. Framed under the goal of "restoring integrity to the financial system and mitigating systemic risks," the executive order tasks the Treasury Department, the Consumer Financial Protection Bureau (CFPB), and other federal financial regulatory agencies with drafting new regulations within 60 to 180 days. Key provisions include: requiring financial institutions to strengthen due diligence on customers without work authorization and their employers; incorporating "potential eviction and income loss" into loan repayment capacity assessments; and launching rigorous investigations into illegal financial activities that bypass the Bank Secrecy Act through Individual Taxpayer Identification Numbers (ITINs), shell companies, structured transactions, and other means.