Trump Signs Order Aimed At Preventing Illicit Financial Activity

According to a study by the left-leaning Urban Institute, lenders issued around 5,000 to 6,000 mortgages to customers with ITINs.

Banks are generally reluctant to lend to customers with ITINs, and Fannie Mae and Freddie Mac are typically disinclined to insure mortgages for borrowers with an ITIN.

The order also directs the Treasury to consider regulatory changes under the Bank Secrecy Act that would enable financial institutions to more readily collect customer data, including immigration status and employment authorization.

Trump has repeatedly accused banks of discriminating against conservatives and has filed a $5 billion lawsuit against JPMorgan Chase and its CEO over the closure of his accounts following the Jan. 6, 2021, Capitol riot.