Treasury widens bank data‑sharing rules linked to Trump‑era immigration crackdown

The U.S. Treasury Department announced an expansion of bank data‑sharing rules. The regulations were initially introduced during the Trump administration’s immigration crackdown. The updated rules broaden the scope of information banks must provide. Agencies will receive more detailed financial data for enforcement purposes. The change aims to improve compliance with immigration‑related statutes. Critics warn the measures could increase privacy concerns for account holders. Financial institutions are preparing to adjust reporting systems accordingly. The Treasury says the revisions will strengthen enforcement of immigration laws.