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Capital One

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Banks react after Trump calls for a 10% cap on credit card interest — Static01.nyt.com

Banks react after Trump calls for a 10% cap on credit card interest

President Trump posted on social media calling for a one-year, 10 percent cap on credit card interest rates, touching off alarm among banks and lenders that the move would hit a major profit source. The industry has been “in a tizzy,” and shares of card-heavy banks have fallen this week

Trump proposes one-year 10% cap on credit card interest, prompting market and expert concern — Api.time.com

Trump proposes one-year 10% cap on credit card interest, prompting market and expert concern

Time reports President Donald Trump has proposed a one-year cap on credit card interest rates at 10%, saying the change would take effect on Jan. 20. The announcement coincided with early trading drops for some U.S. credit card companies when the New York Stock Exchange opened, with American Express,