What is the official ID of this bill?

The official print number for this legislation is S 4206.

When did the legislative process begin?

The process officially started on 2026-03-25.

What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: https://www.congress.gov/119/bills/s4206/BILLS-119s4206is.htm

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-04-13.

Who is the primary sponsor?

The primary sponsor is Sen. Cotton, Tom [R-AR].

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Analysis and Potential Impact of S 4206

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

Mandatory citizenship and legal status verification for bank accounts

Q: What are the main provisions?

Key points include: Financial institutions must verify legal status using specific documents like passports, REAL ID licenses, or permanent resident cards. Accounts of individuals with expired temporary status will be restricted and eventually closed if updated proof is not provided. Unlawfully present individuals maintaining active bank accounts face fines up to $1 million and up to one year in prison. Exceptions apply to asylum seekers and foreign entities or individuals not physically present in the United States.

This bill requires banks and credit unions to verify that all account holders are U.S. citizens or legally present in the country. Individuals without legal status will be barred from maintaining bank accounts, with strict penalties for non-compliance.

Key points

Financial institutions must verify legal status using specific documents like passports, REAL ID licenses, or permanent resident cards.

Accounts of individuals with expired temporary status will be restricted and eventually closed if updated proof is not provided.

Unlawfully present individuals maintaining active bank accounts face fines up to $1 million and up to one year in prison.

Exceptions apply to asylum seekers and foreign entities or individuals not physically present in the United States.

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Status:

Introduced

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Additional Information

Know Your American Customer Act

Print number: S 4206

Sponsor: Sen. Cotton, Tom [R-AR]

Process start date: 2026-03-25

System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.

Summarized by: gemini-flash-latest

Source data: api.congress.gov

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