Executive Order EO 14406
Close Restoring Integrity to America's Financial System Signed Donald Trump · May 19, 2026
Directs Treasury and banking regulators to tighten customer checks on immigrants without work authorization and employers who hire them.
Does not create new legal authority or funding. Directs agencies to issue guidance and propose rule changes within existing powers.
What it does (5) Purpose Administration policy to safeguard the financial system from illicit cross-border activity and credit extension to inadmissible and removable aliens Safeguarding Against Fraud and Abuse Treasury must issue advisory on payroll tax evasion, nominee accounts, money services businesses, cash structuring, labor trafficking, and use of ITINs by non-authorized workers Treasury must propose stricter Bank Secrecy Act rules requiring stronger customer identity checks and verification of lawful immigration status Addressing Structural Credit Risks Consumer Financial Protection Bureau to clarify that deportation and wage loss can factor into ability-to-repay lending decisions Banking regulators to issue guidance on credit risks from non-work authorized population Read it on the Federal Register