Treasury Employees Resist Citizenship Verification Plan for Banks

Longtime employees at the U.S. Treasury Department are expressing opposition to the Trump administration's proposal requiring banks to verify citizenship information. Bloomberg posted on X, highlighting the resistance from within the department, which comes amid strong objections from lenders. The plan has sparked debate over its implications for privacy and the banking sector, with critics arguing it could lead to increased costs and operational challenges for financial institutions. The proposal is part of broader efforts by U.S. President Donald Trump's administration to tighten regulations and enhance security measures. However, the pushback from Treasury staff underscores the complexities and potential hurdles in implementing such policies.