Banking Restrictions for Immigrants in Florida 2026: What You Need to Know

Florida's immigration enforcement push in 2025 and 2026 has created real fear in Latino communities about using banks. Many families are keeping cash at home or avoiding financial institutions entirely. Here is what the law actually says — and why a bank account is still the safest place for your money.

What Florida's immigration laws actually restrict

Florida's SB 1718 (2023) imposed E-Verify requirements on employers with 25 or more workers. In 2025, the state expanded cooperation with federal immigration enforcement. Critically, neither of these laws affects your right to open or maintain a bank account.

What SB 1718 does NOT do: It does not require banks to verify immigration status. It does not authorize banks to report customers to ICE for being immigrants. It does not prohibit undocumented people from having bank accounts.

Federal law overrides state law for banking

Banks are regulated by federal law, which prohibits discrimination based on national origin. The Community Reinvestment Act requires banks to serve all communities in their area. The Equal Credit Opportunity Act prohibits discrimination in financial services based on national origin. These federal rules apply in Florida regardless of state immigration policy.

What banks can legitimately ask for

Banks have "Know Your Customer" (KYC) obligations under the federal Bank Secrecy Act. They can ask for: a valid government-issued photo ID (foreign passport or consular ID), an ITIN instead of an SSN for tax identification, and proof of address (a utility bill, rental agreement, or bank statement).

What banks cannot do

A bank cannot deny you a basic account solely because of your immigration status if you have valid documents and an ITIN. It cannot ask about your citizenship as a condition for opening an account. It cannot report your ordinary transactions to ICE — banks only report suspicious activity to FinCEN (the federal financial crimes unit) when there are signs of money laundering, not immigration violations.

What is automatically reported to the government

Cash transactions over $10,000 in a single day are automatically reported via a Currency Transaction Report (CTR). This applies to all customers regardless of citizenship and is an anti-money-laundering measure — not an immigration enforcement tool.

How to protect your financial privacy

Use electronic transfers, checks, or debit cards for large transactions. Avoid handling large cash amounts unnecessarily. Choose a bank or credit union experienced with immigrant communities — Juntos Avanzamos-certified credit unions have explicit inclusion policies.

How to report discrimination

If a bank denies you service unfairly: request the reason in writing, report to the CFPB at 1-855-411-2372 (Spanish available) or consumerfinance.gov, file a complaint with the FTC at reportfraud.ftc.gov, or contact the Florida Office of Financial Regulation at flofr.gov for state-chartered banks.

Knowing your rights is your best protection. At Atton Finance we connect the immigrant community with financial advisors and credit unions that actively work to include everyone in the American financial system, regardless of immigration status.