EO for banks to require citizenship information?
![[Post New]](/jforum/templates/default/images/icon_minipost_new.gif){kind=icon}
Anonymous
| There are news articles that the White House is preparing an EO to require banks to verify citizenship (passports or birth cirtificates). How will this work if our family still uses banks that are from states in other parts of the US where we used to live? Move funds now to avoid flying across the country for this? I don't think our administration thinks ahead enough to consider all the issues even for citizens... |
Anonymous
|
We've had 'Know Your Customer' laws for years.
Can't open a bank account anywhere in Europe w/o a passport. They're working to find out illicit money flows. FATCA and all the rest. If you think the dems are going to be against this, you have another thing coming. DC is hungry for money. Wait until dems getbin and want a yearly wealth tax. Hide your Air Jordans. |
Anonymous
| So what’s going to happen, a citizen who can’t find their birth certificate that’s maybe back at their parents’ house 2000 miles away or worse, lost in a move, will have to scrape together money to prove they are who they are. And maybe they don’t have a passport. And can’t afford one. Then what, access to their own money is shutdown, no car loans, no mortgage, no college loans, etc, all while the criminal Epstein class with money sitting in god knows what offshore funds. |
Anonymous
|
Anonymous
|
So...nobody has any idea of how this would be implemented? Should we move funds to local banks now to avoid cross-country trips?
Lots of citizens are going to lose access to their funds at least temporarily, and I am not sure how banks are going to be able to handle the increased workload. |
Anonymous
|
Usually banks open accounts to anyone who is a resident of that country. Not a citizen, but a legal resident.
For example, I'm French, and I've been able to open bank accounts in the USA no problem, but I've had trouble opening accounts in my own country, which is annoying, because I've been living in the US for 20 years, and EU banks now require residency to open bank accounts, to prevent money laundering. It's been a huge problem for all EU expatriates. My dual citizenship son was able to open a bank account in France when he was on his study abroad, however. Since he has a French accent and provided a signed affidavit that he lived with his grandparents in Paris, they didn't think to inquire whether he had actually lived long term in France. I don't think that was the intended use of the law, but it's such a stupid law that people are going to try to circumvent it. I imagine the USA wants to implement something similar. |
Anonymous
| It's one thing if they wanted to make this rule for opening new accounts - but they want to apply it to existing account holders. Ridiculous. There have to be millions of people out there who don't have passports and whose current name does not match their birth certificate. |
Anonymous
| How will a small credit union in Nebraska be able to verify an 80 year old birthcertificate from Alabama or understand immigration laws well enough to determine immigration status for foreign citizens? Good luck. A looming banking crisis with wide repercussions (watch what will happen when large numbers of people, including many many citizens, are suddenly cut off from paying their bills). |
Anonymous
|
I was a non citizen in uk.and opened a bank acount when i studied there for a year as an exchange student, so this is unusual. Happy that global capital will be forced to flee our banking system and thus lose its influence . . . But that just indicates to me it wont happen.
|
Anonymous
You really think people in Nebraska are unable to figure this out? |
Anonymous
1. At your parent's house, have them mail it to you. 2. Lost it: apply for a new one. They are affordable. And, while you are at it, you might get two just in case you lose one. If you cannot scrape up enough to get a new birth certificate, I think it is unlikely that you can afford a mortgage. No one will deny you access to your funds. I think this is to open an account. |
Anonymous
They are not nearly as sophisticated as the PP who is probably a dem living in a highly desirable area like Takoma Park. |
Anonymous
| How does this fall under the purview of the Executive Branch of government, which EOs only apply to? |
Anonymous
Trump's EOs are different. They apply to the entire nation. The entire world, really. Also the Moon and Mars while we're at it. |
Anonymous
| It all for show. The real dark money and laundering doesn't flow through individual people's bank accounts. As if that were the problem. |