Trump Signs Order Aimed At Preventing Illicit Financial Activity

“President Trump is taking action to restore integrity to America’s financial system, cracking down on illicit activity that threatens national security and ending the extension of credit to high-risk borrowers that American citizens are forced to subsidize,” a White House fact sheet for the order said.

“Restoring sound underwriting standards puts money back in the pockets of law-abiding Americans,” the order added.

The fact sheet claimed that “gaps in customer identification practices have allowed terrorists, drug traffickers, money launderers, and other criminal networks to exploit U.S

The White House also pointed to cases of banks extending mortgages, credit cards, and loans to