WASHINGTON (AP) — The Trump administration is taking additional steps to prevent people living in the U.S. illegally from using the nation's banking system, cracking down on financial institutions that are lending money to them.
On Monday, a group of financial regulators is set to issue guidance intended to remind banks and other financial institutions of their know-your-customer requirements with respect to credit risk management, particularly as it relates to borrowers who are not authorized to work in the U.S.
The newest warning is one of several measures the Trump administration has taken to discourage people in the U.S. illegally from interacting with the larger U.S. financial system. The measures, over the last nine months, are designed to strongly encourage banks to remove them as customers while not expressly mandating that the banks do so.
The joint announcement is planned from three of the nation's bank regulators: the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Association. The agencies said that banks should take into account that people in the U.S. illegally may not be able to repay a loan because of deportation. In short, they say, people working in the U.S. illegally pose overall risk to the financial system.
There is limited data on how many people in the U.S. illegally have bank accounts and have loans through the banks.
This comes as part of President Donald Trump’s executive order signed in May that requires banks and other financial institutions to take a closer look at the citizenship of their customers. That order started the most recent wave of banking regulation changes, ordering bank regulators and government departments to look for signs that people without legal status are opening accounts or obtaining loans or credit cards.
Among other things, the guidance being issued Monday advises financial institutions to “identify, measure, monitor, and control these risks through safe and sound underwriting practices that assess a borrower’s willingness and capacity to repay according to the terms of the credit obligation” according to a news release.
In May, Treasury’s financial crimes arm — also known a FinCEN — issued an advisory to banks telling them to watch out for identity theft, payroll tax fraud, and money laundering schemes tied to hiring people who are not authorized to work in the U.S.
The advisory calls on financial institutions to be alert for more than a dozen red flags that indicate an individual is in the U.S. illegally.
The White House has also taken other measures to discourage people in the U.S. illegally from using the financial system. The Treasury last November announced that it would reclassify certain refundable tax credits as “federal public benefits,” which bars some immigrant taxpayers from receiving them, even if they file and pay taxes and would otherwise qualify.
Tax experts said immigrants brought to the U.S. illegally by their parents as children, known as Deferred Action for Childhood Arrivals, or DACA, recipients, and immigrants with Temporary Protected Status would be affected by the planned change.
Sweet contributed from New York.
FILE - Pedestrians pass a TD Bank location, June 24, 2026, in Boston. (AP Photo/Charles Krupa, File)
President Donald Trump arrives to speak at a lunch in the White House Rose Garden, Monday, July 6, 2026, in Washington. (AP Photo/Julia Demaree Nikhinson)
CRYSTAL LAKE, Ill.--(BUSINESS WIRE)--Jul 13, 2026--
AptarGroup, Inc. (NYSE: ATR), a global leader in drug delivery, dosing and protection technologies, and consumer product dispensing, today announced that it has been named one of the America’s Best Companies 2026 by TIME. Aptar is ranked 83 out of 1000 companies evaluated by TIME and its partner Statista. Aptar is ranked within the top five companies in the Engineering, Manufacturing and Medical Technology category and is ranked in the top 10 companies nationwide for sustainability transparency.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260713476643/en/
For this inaugural list, TIME and Statista evaluated the top U.S. based companies on employee satisfaction, financial performance and sustainability transparency.
“We are honored to be among the Top 100 of America’s Best Companies by TIME,” said Stephan B. Tanda, Aptar President and CEO. “We have an 80-year history of designing and manufacturing in the U.S., along with 19 other countries, to improve the lives of millions of people around the world. Our dispensing and dosing technologies deliver medications that treat chronic diseases, bring convenience and security to consumers, and we continually work to make our solutions more recyclable, reusable and sustainable. This recognition also reflects our commitment to helping our employees reach their full potential and supporting the communities where we live and work.”
In addition to being named One of America’s Best Companies, Aptar achieved a Gold EcoVadis ranking, placing Aptar in the top 5% of companies rated by EcoVadis for 2026 and Aptar was named a CDP Supplier Engagement Leader for the sixth consecutive year, a recognition which assesses the company’s awareness of climate change issues, management methods and progress towards action taken on climate change.
“Our team is especially proud to be ranked in the top 10 of all companies for sustainability transparency. For over the last 10 years, Aptar has published an annual sustainability report that aligns to the Global Reporting Initiative (GRI) standards. We remain focused on making and communicating our steady, measurable progress that reflects both our commitments and the realities of the systems we operate within,” said Beth Holland, Chief Sustainability Officer.
As outlined in the Company’s 2025 Corporate Sustainability Report, “Progress in Motion”, Aptar continues to make meaningful progress across key areas of its global sustainability strategy. As of year-end 2025, 98% of Aptar’s electricity was sourced from renewable sources. Thanks in part to power purchase agreements in Europe and North America for a more localized source of renewable energy, dedicated to Aptar.
For a full list of the America’s Best Companies 2026 and a breakdown of the methodology, please visit the TIMEwebsite.
About Aptar
Aptar is a global leader in drug delivery, dosing and protection technologies, and consumer product dispensing. Aptar partners with the world’s top healthcare and consumer brands to deliver medicines and create exceptional user experiences. Serving diverse markets, from pharmaceutical to beauty to food and beverage, Aptar combines market expertise with proprietary design, engineering and science to develop innovative solutions that help improve lives worldwide. Headquartered in Crystal Lake, Illinois, Aptar employs 14,000 dedicated people across 20 countries. Learn more at http://www.aptar.com.
This press release contains forward-looking statements, including statements regarding Aptar’s sustainability strategy, supplier engagement and collaboration, emissions-reduction efforts, science-based targets and Carbon Transition Plan, and related expectations regarding lower-carbon alternatives, circularity, supplier performance and transparency. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by use of words such as “expects,” “anticipates,” “believes,” “estimates,” “future,” “potential,” “continues,” “working,” “support,” “advance” and other similar expressions, or future or conditional verbs such as “will,” “should,” “would” and “could,” which are intended to identify such forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on our beliefs as well as assumptions made by and information currently available to us. Accordingly, our actual results or other events may differ materially from those expressed or implied in such forward-looking statements due to known or unknown risks and uncertainties that exist in our operations and business environment including, but not limited to: supplier participation, performance, transparency and data availability and accuracy; availability, cost and performance of lower-carbon materials, recycled materials and other alternatives; customer and consumer preferences; product performance, quality or supply chain matters; the regulatory environment, including laws, regulations, standards and reporting requirements relating to climate, emissions and sustainability matters; and competition, including technological advances. For additional information on these and other risks and uncertainties, please see our filings with the Securities and Exchange Commission, including the discussion under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-K and Form 10-Qs. We undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Aptar Named Among Top 100 of America’s Best Companies by TIME (logo used with permission from Statista)
