Know Your American Customer Act

Summary

The bill adds a rule that any insured bank or credit union must confirm a customer’s citizenship or legal presence using specific documents before opening a new account. It also creates a process for people with temporary immigration status, limiting account access after their authorized stay ends unless they provide updated proof. The goal is to make sure financial institutions know the legal status of the people they serve.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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