The Trump administration is considering an executive order that would require banks to gather citizenship information from both new and existing customers, The Wall Street Journal reported Tuesday, citing people familiar with the matter.

This could include asking for documents like passports, a step that has raised concerns among banks, the report added.

US banks are currently required to collect some customer information to prevent money laundering and crime, but they are not required to gather citizenship data, the report said.

"Any reporting about potential policymaking that has not been officially announced by the White House is baseless speculation," White House spokesman Kush Desai was quoted as saying in the report.

The White House didn't immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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