H.R.7842

The Alien Banking Act requires financial institutions to verify the lawful immigration status of account applicants through a self-attestation form.

The Alien Banking Act amends section 5318 of title 31, United States Code, to mandate that financial institutions verify the lawful immigration status of applicants for deposit accounts through a self-attestation form. This form requires individuals to attest to their lawful presence in the United States, including by checking a box indicating their status as a U.S. citizen, lawful permanent resident, or otherwise lawfully present. The bill imposes penalties on individuals for knowingly making false attestations, including criminal penalties, civil penalties, and forfeiture of assets.