Trump says bank accounts enabling illegal aliens to defraud US on welfare, send money overseas will be SHUT DOWN

Following an executive order signed by President Trump in May related to banking, the leader said that bank accounts that are being used to enable illegal immigration or defraud the United States will be shut down.

"Illegal Immigrants and Foreign Fraudsters steal BILLIONS every year from the American Taxpayer. As part of my Administration’s Historic effort to end FRAUD and reverse MASS ILLEGAL IMMIGRATION, I recently signed a powerful new Executive Order, which will be led by the Treasury Department, to stop Banks, Credit Cards, and Financial Institutions from being used to facilitate Human Smuggling, Drug Trafficking, Illegal Immigration, and the Criminal Cartels who orchestrate these activities," Trump wrote. 

"Access to our Nation’s Financial Systems must be limited to those who have a Legal Right to be here, and who are engaged in Lawful and Legitimate Commerce," Trump continued. 

"Bank Accounts being used to enable Illegal Immigration, or to store the Welfare received by Illegal Aliens, will be shut down, and funds will ultimately face Impoundment and Seizure so they can be returned to Taxpayers. It is not ludicrous, but profoundly dangerous, that any Illegal Alien can simply present a Blue State Drivers License, or Biden Border Document, and have unrestricted access to the US financial System. 

"This also sends a clear message to the anti-ICE rioters that your violent disruptions are only strengthening our resolve. My Executive Order will also allow us to stop Billions in leaving our Country in all manner of criminal activity. It has been said this measure we are taking is the most effective means of reversing Biden’s Border Invasion. We shall soon find out," he concluded.

The order signed by Trump in May, titled "Restoring Integrity to America’s Financial System," directs the Treasury Department to issue warnings to financial institutions "regarding the risks associated with the exploitation of the United States financial system by non-work authorized populations and their employers," including payroll tax evasion, labor trafficking, off-the-books wage payments, and the use of taxpayer identification numbers to open accounts without verified legal presence.

The Consumer Financial Protection Bureau is also directed under the order to "consider clarifying that potential deportation and loss of wages are factors that could adversely affect a non-work authorized borrower’s ability to repay an extension of credit under the 'ability-to-repay' standards … and that lenders may consider such factors as part of a reasonable and good-faith underwriting determination."