Stephen Miller stated the administration is seeking to debank illegal immigrants to encourage them to self-deport from the United States.
Stephen Miller, White House deputy chief of staff, said the administration is pursuing a policy to "debank" illegal immigrants as a primary incentive for self-deportation. During an interview on "The Clay Travis & Buck Sexton show," Miller explained that illegal immigrants currently participate heavily in American commercial and financial systems through credit cards, bank accounts, and direct deposits. The administration announced that President Trump signed an executive order directing banks and federal regulators to increase scrutiny on accounts and credit applications for those without legal status. While the order does not strictly forbid banks from offering services to illegal immigrants, it highlights them as potentially higher-risk customers. Federal agencies have already begun implementing this shift. The Consumer Financial Protection Bureau issued guidance stating that lenders may be required to consider immigration status when assessing loan repayment abilities. Additionally, three federal agencies issued a joint advisory reminding financial institutions to apply safe-and-sound credit risk management practices when lending to borrowers who are not legally authorized to work in the country.