Rep. Self, Sen. Cotton Unveil Bill to Restrict Banking Access for Illegal Aliens

A new Republican-backed proposal in Congress would require banks and credit unions to verify citizenship or lawful immigration status before allowing individuals to open or maintain accounts, escalating the debate over financial access and immigration enforcement in the United States.

The measure targets what supporters describe as a loophole that allows individuals not lawfully present in the country to access the U.S. banking system.

The legislation, led in the House by Rep. Keith Self (R-TX) and in the Senate by Arkansas Sen. Tom Cotton (R), would mandate that financial institutions collect documentation proving citizenship or legal residency.

Acceptable forms of verification would include U.S. passports, REAL ID-compliant driver’s licenses, or permanent resident cards.