Banks would require proof of citizenship or legal status to open or keep accounts, with penalties for non-compliance.
This bill would require banks and credit unions to check if people are U.S. citizens or lawfully present to open or keep an account. If passed, individuals who are not lawfully present and open or maintain an active account could face large fines or jail time. Banks would also face penalties if they don't follow these new rules.
Today, federal law does not require banks and credit unions to verify the citizenship or legal status of individuals opening or maintaining accounts. This bill would change that by requiring these financial institutions to check for U.S. citizenship or lawful presence. It would also impose criminal penalties, including fines up to $1,000,000 and up to 1 year in prison, for individuals not lawfully present who open or maintain active accounts, which is not currently a federal crime.
HR 8836 · 119th Congress · May 14, 2026 · AI Summary by gemini-2.5-flash · 4/10
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