Latest action: Referred to the House Committee on Financial Services.
Referred to one or more standing committees for review, hearings, and possible markup.
Specific committees not parsed from action data.
The committee may hold hearings, amend the bill, or let it die without action.
Next: Reported
Full chamber floor — Speaker / Majority Leader controls scheduling
Requires financial institutions to verify customer identities for immigration compliance purposes.
The problem
Financial institutions may lack clear procedures to identify customers for immigration enforcement. This creates uncertainty about regulatory requirements and potential compliance gaps.
The proposal
The bill would establish know-your-customer requirements for banks and financial firms. They would verify customer identities and report relevant information for immigration purposes.
The impact
Banks and financial institutions face new compliance costs. Customers may experience longer account opening processes. Immigration authorities gain additional data access.
Financial data could help identify individuals with immigration violations. This provides law enforcement with additional investigative resources. Supporters argue this improves national security and enforcement effectiveness.
Establishes explicit requirements that banks must follow. Reduces uncertainty about compliance obligations. Provides consistent rules across all financial institutions.
Enhanced identity verification can detect fraudulent accounts. Protects financial system integrity. May reduce identity theft and financial crimes.
Banks must invest in new systems and procedures. Small financial institutions may struggle with expenses. Costs could be passed to customers through higher fees.
Financial data sharing with immigration authorities raises privacy issues. Customers may worry about government access to banking information. Could discourage financial participation among certain groups.
Stricter verification may make it harder for undocumented immigrants to open accounts. Could push people toward informal banking systems. May disadvantage vulnerable populations.
Requires new reporting procedures and staff training. Creates ongoing compliance obligations for institutions. May slow customer service processes.
Generated by AI from the bill text. Not a prediction and not legal or policy advice. The percentage is the model's own rating of each item — self-reported, and not a measure of how accurate it is.
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Individual contributions, grouped by employer · FEC
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Itemized individual contributions via FEC, grouped by the employer each contributor self-reported. Companies and unions cannot contribute to federal candidates from their treasuries, so these totals are money from people who work at an employer — never from the organization itself. They are campaign contributions covering a full election cycle and are not connected to this bill.
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