PolitiFact6%
No existe una orden de Trump que mande a los bancos a cerrar las cuentas de inmigrantes 10%
By Maria Briceño8%
7/1/2026, 12:00:00 AM
BS Summary: This article contains 22 faulty reasoning types, including Quote-first Misdirection, Appeal to Emotion, and Ambiguity (Equivocation), with Appeal to Authority as the most egregious example at 10.1% saturation with 78 hits. Analysis detected 669 faulty-reasoning hits from 776 analyzed words, generating a BS Score of 26.6% and a BS Rank of 10% (19,810 of 21,886 articles). This article is better (less manipulative) than 90.50% of the article peer group.
Some immigrants are worried that starting July 19, banks will close their bank accounts.
A Facebook post with more than a million views warns immigrants illegally in the U.S. to withdraw their money from banks.
"Starting July 19, they will prevent immigrants who do not have documents from having their bank account," the June 4 video says.
"Immigrant, take your money out of the bank because starting July 19, when you go, you won't have anything."
Other posts on TikTok also say similar things.
The posts are referring to the executive order that President Donald Trump signed on May 19 that seeks to "restore the integrity of the American financial system."
Although the order mentions immigrants illegally in the U.S., it does not dictate that their bank accounts be closed.
"The posts get the key points wrong.
Nothing in the executive order closes anyone’s bank account, confiscates funds, or sets a July 19 deadline for consumers," said Gil Guerra, an immigration policy expert at the Niskanen Center, a think tank.
What does the executive order seek to do?
The order seeks to eliminate the movement of illicit funds by terrorists, drug traffickers, and other criminals.
It also says it wants to strengthen the customer identification requirements that banks use and points out the risks these institutions may face by providing financial services to immigrants illegally in the country.
Guerra says the order is focused on illicit finance and credit risk, and what it mostly does is order directives to federal agencies.
The Consumer Financial Protection Bureau and banking regulators have 60 days to clarify what the risk is for banks in providing loans or financial services to customers who may be deported or without work authorization.
(This would be July 18).
It is likely that the Facebook video is using the July 19 date because some of the deadlines to comply with the order are 60 days.
However, these are deadlines for the government to issue guidance documents, not dates on which something concrete is supposed to happen for the customer or the bank account, Guerra said.
The Treasury Department must issue a notice about red flags for suspicious activity within 60 days (this would be July 18).
Trump said on his social media Truth Social on June 2 that "bank accounts used to facilitate illegal immigration or to deposit welfare benefits received by illegal immigrants will be closed; ultimately, the funds will be subject to retention and seizure in order to return them to taxpayers."
It is possible that users saw Trump's post as confirmation that their accounts would be closed, but the order itself says nothing about closing accounts, seizing or confiscating funds.
"That wording appears solely in Trump’s Truth Social post, which seems to describe the order in aspirational rather than literal terms," Guerra said.
James Vivenzio, an expert in financial institution laws who works at the law firm Perkins Coie, said Trump's post seems to focus more on another executive order that Trump signed in March to eliminate fraud in government-funded programs.
This also does not mandate closing bank accounts.
Immigrants illegally in the U.S. can still open bank accounts
As of July 1, no law has been passed that denies immigrants illegally in the country from opening bank accounts.
The customer identification rule for banks that the PATRIOT Act implemented in 2001 allows them to accept a taxpayer identification number, or an Individual Taxpayer Identification Number (ITIN), to open bank accounts in the U.S.
It also allows foreigners to use their country's passport, consular identification cards, or any other document issued by a government authority that proves the person's nationality and contains a photograph.
There is no law that requires U.S. citizenship to open a basic account.
Guerra said that Trump's executive order identifies the use of an ITIN without verified legal status as a risk factor for banks, in case the person loses their job or is deported from the country and cannot pay their loans.
"What it means is that more questions are likely to be asked and more documents requested, and some banks may become more conservative on their own," Guerra said.
He also said that any changes to customer identification rules must go through a 180-day legal process where the proposed change must be announced, there must be time to review it and receive public comments.
This Trump order is less restrictive compared to previous reports that speculated the order would make it mandatory for banks to check their customers' citizenship status.
Read more reports from PolitiFact in Spanish here.
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