ROOKE: Trump Moved To Cut Head Off Snake Of Illegal Immigration
Mary Rooke Commentary and Analysis Writer June 03, 2026 dailycaller.com
President Donald Trump signed an Executive Order in May, forcing the federal government to address a massive loophole allowing illegal immigrants access to U.S. banking systems.
The order, titled “Restoring Integrity to America’s Financial System,” aims to protect the U.S. banking system from risks tied to illegal immigration, money laundering, drug trafficking, human smuggling, and related fraud. Trump directed the U.S. Treasury Department, federal financial regulators, and the Consumer Financial Protection Bureau (CFPB) to strengthen oversight and risk management in banking related to illicit finance, money laundering, and credit risks tied to illegal immigration.
“Illegal Immigrants and Foreign Fraudsters steal BILLIONS every year from the American Taxpayer. As part of my Administration’s Historic effort to end FRAUD and reverse MASS ILLEGAL IMMIGRATION, I recently signed a powerful new Executive Order, which will be led by the Treasury Department, to stop Banks, Credit Cards, and Financial Institutions from being used to facilitate Human Smuggling, Drug Trafficking, Illegal Immigration, and the Criminal Cartels who orchestrate these activities,” Trump stated in a Truth Social post.
“Access to our Nation’s Financial Systems must be limited to those who have a Legal Right to be here, and who are engaged in Lawful and Legitimate Commerce. Bank Accounts being used to enable Illegal Immigration, or to store the Welfare received by Illegal Aliens, will be shut down, and funds will ultimately face Impoundment and Seizure so they can be returned to Taxpayers. It is not ludicrous, but profoundly dangerous, that any Illegal Alien can simply present a Blue State Drivers License, or Biden Border Document, and have unrestricted access to the U.S. Financial System,” he continued.
“This also sends a clear message to the anti-ICE rioters that your violent disruptions are only strengthening our resolve. My Executive Order will also allow us to stop Billions in leaving our Country in all manner of criminal activity. It has been said this measure we are taking is the most effective means of reversing Biden’s Border Invasion. We shall soon find out,” Trump added.
While his order does not immediately close all bank accounts for illegal immigrants — which is something that ultimately needs to happen — it does make banks more careful about whom they serve and what risks they take, especially when it involves people without authorization to work legally in the U.S.
This move will help stop illicit money flows and reduce bad loans that could hurt the overall banking system and ultimately American consumers through higher fees.
“President Trump is taking action to restore integrity to America’s financial system, cracking down on illicit activity that threatens national security and ending the extension of credit to high-risk borrowers that American citizens are forced to subsidize,” the White House fact sheet on the E.O. stated.
While it’s important to tackle illicit activity like human trafficking, the most important issue addressed in this order is the “risk management” banks will now have to assume because of how it will affect illegal immigrants unlawfully working and living in the U.S.
Banks will be forced to treat immigration status as a risk factor, making it harder for illegal immigrants to open and maintain U.S. bank accounts or get loans. The result will likely be an increase in self-deportations from these groups as they will no longer have easy access to our financial institutions.
In June 2025, riots broke out all over the U.S. to protest Immigration and Customs Enforcement raids, but in cities like Los Angeles, they were especially violent. I argued during that time that the Trump administration should cut off illegal immigrants’ access to U.S. banking systems as a way to bolster self-deportations.
Illegal immigrants use “Directo a México,” an official remittance program of the Federal Reserve Bank, facilitated through the FedGlobal service, to transfer money to Mexico’s central bank at no additional fee.
Not only are we allowing them to access our banking system, but they aren’t even paying a premium for it.
The Federal Reserve Bank of Atlanta, through its Retail Payments Office, centrally manages the FedGlobal service. Several U.S. banks take advantage of this program. The biggest culprits are Citibank, Bank of America, and Wells Fargo. In 2024 alone, Mexico received $64.745 billion in remittances, marking the 11th straight year of increased growth since 2014. These transfers account for approximately 4 percent of Mexico’s total GDP.
Cutting off the financial incentive to come to the U.S. is arguably the most important battle to win. If that access is gone, millions will have no reason to stay. While this doesn’t fully remove access, Trump’s order is the first strike against the snake that is illegal immigration and the peril that comes with it.
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