Donald Trump is considering a possible executive order that would require banks to make sure customers are U.S. citizens to create or keep their accounts, according to a new report.
The proposed action, reported byThe Wall Street Journal, would see banks collect information on individuals’ citizenship through requests for a new category of documents in order to open the accounts.
The Independent has contacted the White House for confirmation or further information about reports of the executive order, which has reportedly raised eyebrows among some banks in recent days.
…or legal permanent residents…
Seriously! Anyone who thinks about this for half a second realizes the repercussions of only allowing US citizens bank accounts. Are we just eliminating immigration entirely now? Immigrants have to prove that they are financially self-sufficient and doing that without a bank account is… effectively impossible. Every legal permanent resident would be immediately unable to function in society. Most jobs require direct deposit into a bank account these days and won’t issue paper checks. How do you even pay rent or a mortgage without a bank account.
It would be absolute chaos.
Women are next.
So a Trump Presidency term.
Can you even cash a cheque without a bank account?
Yes, but only at select places, maybe some banks but usually a check cashing place, and they charge a big cut of the check.
Walmart will fare well.
😬
Then there’s the racket of paycheck lending places, where you get an advance on your next check for a big fee/interest. A brief solution for those who are that desperate for money now, but it digs a deep hole that many fall into.