Illegal aliens to lose access to American banking services under Trump admin in move to encourage self-deportation

The Trump administration is beginning a new push to remove illegal immigrants from the US banking system, with White House Deputy Chief of Staff Stephen Miller saying the effort is intended to encourage self-deportation by cutting off access to financial services.

Speaking Friday during an interview on The Clay Travis and Buck Sexton Show, Miller said the Treasury Department, under Secretary Scott Bessent, has already issued new guidance to financial institutions and plans to meet directly with banks as the policy moves forward. The effort follows a May executive order directing federal agencies to address banking access for illegal immigrants.

“We are not going to allow illegal aliens to use banking services in this country,” Miller said. “You know, contrary to popular perception, the stupid phrase about 'illegal aliens living in the shadows.' Illegal aliens don't live in the shadows! Illegal aliens have credit cards."

"They have bank accounts and they are paid with direct deposit. So illegal aliens fully participate in the commercial systems, the financial systems of America — shutting that down is a massive engine for deportation."

Miller said Treasury officials have already taken the first steps toward implementing the policy.

"The Treasury Department just issued new guidance to financial institutions to banks."

"The next step in this process is us meeting individually with banks and financial institutions on cooperating with us to remove the illegal aliens from the banking system." He said that removing access to banking services would increase voluntary departures from the United States.

“Shutting that down is a massive engine for deportation,” Miller said, before adding, “Once illegal aliens lose their access to capital, that is going to again, be a major driver of self-deportation.”

The administration's May executive order stated that banking and lending to illegal immigrants "undermines the safety and soundness of the national banking system."