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Trump's 10 percent cap on credit cards may hurt more than some imagine
President Donald Trump noted at the Detroit Economic Club that he's calling to cap credit card rates at 10 percent for a year. But banks are pushing back.
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cnbc.com
Banks including Citi, JPMorgan slide after Trump calls for credit card interest rate limit
Posting on Truth Social, Trump said said he would "no longer let the American Public be 'ripped off' by Credit Card Companies."
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Trump's credit card rate cap plan has unclear path, 'devastating' risks, bank insiders say
A 10% rate cap would make large swaths of the credit card industry unprofitable, especially tied to customers with less-than-ideal credit, banks say.
