Congressman Keith Self Introduces Bill to Ban Illegal Aliens from American Banking System

Congressman Keith Self (TX-03) introduced the House companion to Senator Tom Cotton's legislation to ban illegal aliens in the United States from accessing the American banking system. The bill, titled the Know Your American Customer Act, requires insured banks and credit unions to verify the citizenship or lawful presence of individuals seeking to open or maintain accounts.

"Access to America's financial system is reserved for those who respect our laws - not for illegal aliens who break them," said Congressman Self. "Those who enter illegally should not be rewarded with taxpayer-backed banking services. This legislation draws a hard line: If you are here illegally, you will not have access to our financial system. I'm proud to lead the House companion to Senator Cotton's bill to protect American taxpayers and enforce the rule of law."

"Access to the American banking system is a privilege that should only be reserved for those who respect our laws and sovereignty," said Senator Cotton. "My bill will prevent illegal aliens from using our financial institutions to help them stay in our country."

The Know Your American Customer Act:

• Prohibits covered financial institutions from opening or maintaining accounts for individuals who are not lawfully present in the United States. Individuals must present documentation demonstrating citizenship or lawful presence, including a United States passport, REAL ID-compliant driver's license, Permanent Resident Card, or other qualifying federal documentation.
• For individuals with authorized temporary stays, the bill requires certification of lawful presence and establishes a structured compliance process. Accounts are subject to review, restriction, and eventual closure if updated documentation is not provided after the lawful status expires.

• The bill also establishes penalties for individuals who knowingly open or maintain active accounts while not lawfully present and provides safe harbor protections for financial institutions that make good-faith efforts to comply.
  

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