This is not unexpected because it always comes down to the money, and banks are making profits hand over hand from illegals. So, the question is, do we allow this so we don’t impact the bank profits, or do we continue to allow people breaking our laws access to our banking systems? For the banks, it is profits; for the government, it is illegals using our systems.
Currently, illegals can use our U.S. banking systems as long as they have a valid ID, which does not need to be from the U.S., and banks have the discretion to allow or deny accounts. Trump could very well change this with an executive order or push something through Congress, but is it right? What bothers me is that this allowance is one of many magnets that draw people to sneak into our country. What if an unknown cartel member was using our banking systems? It is probably already happening. Nothing is easy, and the humanitarian issue will surely be a point of contention for progressives. All IMO.
“The Trump administration has delayed an executive order that could have required banks to collect and report more information on the immigration status of their customers, after Wall Street and small community lenders pushed back,” the newspaper reported on March 20. It added:
In meetings with administration officials, representatives of the banking industry argued that requiring millions of existing customers to provide records verifying their citizenship status was not practical. The delay has not been previously reported, and such an order could still be revived, said the people who spoke on the condition of anonymity to discuss private discussions. But it is expected to be significantly narrowed from earlier drafts.
The article is written by one of the Post‘s banking reporters, and it reflects the banks’ desire to stop or shrink the deportation of illegal migrants.
The dispute is very important because “it gets to the core issue of whether we are serious about making it as difficult as possible to live here as an illegal alien,” Mark Krikorian, director of the Center for Immigration Studies, told Breitbart News. He added:
Arresting people in the streets … has to be done [because] there’s plenty of instances where ICE needs to go and track people down and arrest them. But most immigrants are only going to be induced to leave [via self-deportation] if they can’t find a job, can’t open a bank account, and can’t get a driving license … This [bank regulation] is an important part of that.”