Potential executive order would enlist banks in the White House’s illegal-immigration crackdown
This post uses a gift link with a view count limit. If it runs out, an earlier version of the article is here. That version is missing some significant details such as:
In January, FinCEN issued an order requiring banks and money transmitters in two Minnesota counties to file information about overseas transactions greater than $3,000, far lower than the normal $10,000 threshold for flagging cash transactions. Banks already think the $10,000 limit should be raised and have struggled to comply with the Minnesota order, according to some people familiar with their efforts.
It’d be nice to see banks, as a group, just say: make us. But it would not surprise me to see them cave…