Washington DC - President Donald Trump and his administration are reportedly considering a move to force banks to verify the citizenship of their customers.

According to The Wall Street Journal, the administration has been discussing the possiblity of issuing an executive order or other move that would make banks demand current and future customers present an unprecedented new category of documents, such as passports.

The move, which is currently under review by the Treasury Department, is a new step in the president's aggressive immigration agenda.

When pressed for comment, a White House spokesperson refused to deny or confirm the reporting, only insisting that anything not officially announced should be seen as "baseless speculation."

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A financial industry source told CNN the idea of verifying every customer's status was "unworkable" and further described it as "a bad idea" that others are also "very alarmed" about.

The source also said bank executives worry the order is designed to force them to play a role in the administration's anti-immigrant agenda.

Throughout his second term, Trump has made targeting banks a focus of his administration, claiming they have been overwhelmingly debanking conservatives. Last year, he signed an executive order that aimed to punish banks that restricted service to customers based on their religious or political beliefs.

Last month, Trump filed a $5 billion lawsuit against JPMorgan Chase over its decision to cut ties with him following the January 6, 2021, Capitol riots.