WASHINGTON, March 25 -- Sen. Tom Cotton issued the following press release:
Senator Tom Cotton (R-Arkansas) today introduced legislation to ban illegal migrants from the American banking system. The Know Your American Customer Act requires U.S. financial institutions to verify the legal status of new customers to ensure American banks are not helping illegal migrants break our nation's laws. In 2025, Senator Cotton wrote a letter to Treasury Secretary Scott Bessent asking that he review current rules for illegal immigrant access to the U.S. banking system.
"Access to the American banking system is a privilege that should only be reserved for those who respect our laws and sovereignty. My bill will prevent illegal aliens from using our fin...