Major Banks Push Back on Trump's 10% Credit Card Cap
TL;DR
A plan by President Trump to cap credit card interest at 10% next week drew warnings from Citigroup and Bank of America that such a cap would slow the economy and curb lending, with executives saying they wouldn’t support it. Trump framed the move as a win for the American public, but details and legal viability are unclear, and banking groups warn of reduced access to credit for riskier borrowers.
- Bank Issues Warning About Trump’s New Credit Card Plot The Daily Beast
- Why Banks Are So Worried About a 10% Credit Card Rate Cap The New York Times
- Delta Air CEO says Trump credit card cap will upend industry The Detroit News
- Donald Trump’s crusade against usury reaches Wall Street The Economist
- Column | You don’t need Trump to cap your credit card interest. Just use this script. The Washington Post
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