Alien Banking Act
Rep. Ogles Introduces Alien Banking Act to Require Immigration Status Checks for Bank Accounts
The Alien Banking Act is currently in the early stages of the legislative process. It was recently sent to the House Committee on Financial Services for review. No further actions are scheduled at this time, and the bill is considered active.
Legislative Progress
Key Points
Impact Analysis
Personal Impact
This bill would completely cut off undocumented immigrants from the U.S. banking system. Without access to bank accounts, affected individuals would be unable to deposit paychecks, pay bills electronically, or build any financial history. They would be forced to rely entirely on cash, making them more vulnerable to theft and exploitation. Anyone who lies on the attestation form risks fines up to $250,000, prison time, and seizure of all money in the account.
“A financial institution may not open or maintain an account for any individual who fails to provide the attestation required under paragraph (2)(D).”
Milestones
Referred to the House Committee on Financial Services.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
Alien Banking Act
Data Sources
Sponsor
Cosponsors
(2)Analysis generated by AI. Always verify with official sources.