To amend section 5318 of title 31, United States Code, to require financial institutions to verify the lawful immigration status of applicants for deposit accounts through a self-attestation form, to impose penalties on individuals for false attestations, and for other purposes.

House Bill

H.R. 7842

119th Congress

To amend section 5318 of title 31, United States Code, to require financial institutions to verify the lawful immigration status of applicants for deposit accounts through a self-attestation form, to impose penalties on individuals for false attestations, and for other purposes.

In Committee

Introduced:Mar 5, 2026

Primary Sponsor

Sponsor information unavailable

Cosponsors

0

Quick Stats

Summary

This bill would require banks and other financial institutions to verify whether people applying to open deposit accounts (like checking or savings accounts) are in the country legally. Applicants would need to fill out a form attesting to their immigration status, and people who provide false information on the form could face penalties.

Latest Action

Referred to the House Committee on Financial Services.

Introduced3/5/2026

StatusReferred to the House Committee on Financial Services.

ChamberHouse

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Vote Prediction

To amend section 5318 of title 31, United States Code, to require financial institutions to verify the lawful immigration status of applicants for deposit accounts through a self-attestation form, to impose penalties on individuals for false attestations, and for other purposes.

This bill would require banks and other financial institutions to verify whether people applying to open deposit accounts (like checking or savings accounts) are in the country legally. Applicants would need to fill out a form attesting to their immigration st

Community Breakdown

Pass

0%

Fail

0%

0 predictions

This bill would require banks and other financial institutions to verify whether people applying to open deposit accounts (like checking or savings accounts) are in the country legally. Applicants would need to fill out a form attesting to their immigration status, and people who provide false information on the form could face penalties.

Bill Number: 7842
Introduced: 3/5/2026
Status: Referred to the House Committee on Financial Services.

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: To amend section 5318 of title 31, United States Code, to require financial institutions to verify the lawful immigration status of applicants for deposit accounts through a self-attestation form, to impose penalties on individuals for false attestations, and for other purposes.
Bill Number: 7842
Sponsor: No sponsor
Status: Referred to the House Committee on Financial Services.
Introduced: 3/5/2026
Summary: This bill would require banks and other financial institutions to verify whether people applying to open deposit accounts (like checking or savings accounts) are in the country legally. Applicants would need to fill out a form attesting to their immigration status, and people who provide false infor

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This bill would require banks and other financial institutions to verify whether people applying to open deposit accounts (like checking or savings accounts) are in the country legally. Applicants would need to fill out a form attesting to their immigration status, and people who provide false information on the form could face penalties.

Last updated: 3/7/2026

Key Points

Main provisions of the bill

Financial institutions would be required to collect self-attestation forms from people applying to open deposit accounts such as checking and savings accounts.
The self-attestation form would ask applicants to confirm their lawful immigration status in the United States.
Individuals who provide false information about their immigration status on these forms could face penalties.
The bill would add these new requirements to existing federal law governing financial institution reporting and recordkeeping.
Banks, credit unions, and other institutions that accept deposits would need to implement this verification process.

How This Impacts Americans

Potential effects on citizens and communities

This bill would affect anyone opening a new bank account at a financial institution, as they would need to complete an immigration status form. It would also impact banks, credit unions, and other financial institutions by requiring them to collect and process these attestation forms as part of their account opening procedures. People who falsely claim lawful immigration status when opening accounts could face legal consequences.

Policy Areas

No policy areas assigned yet.

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

7842, 119th Congress (2026). "To amend section 5318 of title 31, United States Code, to require financial institutions to verify the lawful immigration status of applicants for deposit accounts through a self-attestation form, to impose penalties on individuals for false attestations, and for other purposes.". Source: Voter's Right Platform. https://votersright.org/bills/119-hr-7842

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