Trump Signs Order Aimed At Preventing Illicit Financial Activity

In November, the Treasury Department also disclosed its intention to reclassify specific refundable tax credits as “federal public benefits,” which would limit the eligibility of certain non-citizens who submit taxes in the United States.

“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.