The Trump administration is reportedly considering implementing a requirement that would mandate banks to collect citizenship information from their customers, according to a report from the Wall Street Journal.

The potential policy change would represent a significant shift in banking regulations and could affect how financial institutions handle customer data collection. Currently, banks are not required to verify or record the citizenship status of account holders as part of their standard procedures.

Details about the scope, implementation timeline, or specific mechanisms of such a requirement remain unclear. The administration has not officially announced the policy or provided public statements regarding the reported consideration.

If implemented, the measure could have broad implications for the banking industry and customer privacy practices. Financial institutions would need to develop new systems and procedures to comply with citizenship data collection requirements.

The report comes as the Trump administration has pursued various immigration-related policy initiatives across multiple government agencies and sectors. Banking regulations have occasionally intersected with immigration enforcement efforts in previous administrations.