# White House Considering Requiring Proof Of Citizenship For Bank Accounts

_Apr 14 20:53_

Tags: US, loyalty program, policy change, devaluation, program change

The Trump Administration is reportedly drafting an executive order to require banks to collect proof of citizenship from account holders, potentially impacting bank bonuses and fees

## Summary

The White House is considering a proposed executive order that would require financial institutions to collect proof of citizenship (such as passports) from both new and existing account holders. The policy would be retroactive. Financial institutions have pushed back, citing unworkability and cost. This could lead to erosion of bank account bonuses, removal of benefits, or increased fees, which are significant earning vehicles for frequent fliers using bank accounts to accumulate transferable points

## Sources cited

- [Doctor of Credit](https://doctorofcredit.com/white-house-considering-requiring-proof-of-citizenship-for-bank-accounts) — [In Process] White House Considering Requiring Proof Of Citizenship For Bank Accounts

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