HR 7842
Alien Banking Act
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 3:55 AM
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- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Alien Banking Act, requires financial institutions to verify the immigration status of anyone opening a deposit account. Customers will be asked to complete a form under penalty of perjury, stating their lawful presence in the United States. Individuals who knowingly provide false information will face civil penalties of up to $50,000, and potential criminal charges including fines up to $250,000 and imprisonment. The bill also establishes a reporting requirement for financial institutions suspecting false attestations and mandates the Treasury Department to create regulations for implementation.
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