Donald Trump's administration opened a new front in its immigration policy: the financial system. Through an executive order signed on May 19, 2026, the White House instructed the Treasury Department and regulatory agencies to tighten controls on bank accounts, credits and transfers linked to immigrants without legal authorization to work in the United States.

Although the order does not directly ban remittances, it does raise new financial oversight rules that could change the way millions of immigrants send money to their families in Latin America.

The measure pays special attention to the use of ITIN - the tax number used by people who do not have Social Security - as well as small international transfers, digital payment platforms and cash deposits that the government considers potentially associated with illicit activities.

The official text was published by the White House and is part of Trump's strategy to strengthen immigration and financial controls.

“It is the policy of my Administration to restore the integrity of the American financial system,” the executive order states.

Trump links remittances to organized crime

One of the most delicate points of the document is that the White House justifies the tightening of controls by ensuring that small international transfers have been used by organizations related to drug trafficking, money laundering, human trafficking and criminal financing.

In the order, Trump states that financial investigations detected operations linked to Mexican cartels dedicated to fentanyl trafficking, as well as transnational criminal networks that allegedly take advantage of bank accounts and money transfer platforms in the United States.

The document also mentions investigations into Chinese money laundering networks that, according to the US government, would have moved more than $312 billion using accounts within the country's financial system.

“Robust customer identification programs and enhanced due diligence measures are needed to mitigate these risks,” the presidential text states.

From now on, the Treasury Department must issue formal warnings to banks and financial institutions about red flags related to tax evasion, off-payroll payments, use of shell companies and suspicious transfers.