US Treasury widens bank data‑sharing rules amid Trump immigration drive

The Treasury Department announced expanded data‑sharing regulations for banks. The change aligns with the Trump administration's immigration enforcement agenda. Banks will be required to share more customer information with authorities. The policy aims to aid immigration officials in identifying undocumented individuals. Critics argue the rules raise privacy concerns. The Treasury cited national security as justification. Implementation is expected to begin within weeks. Stakeholders will monitor the impact on banking operations.