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Under threat from Trump, Wall Street banks wager they can fend off credit card price controls
Five days after Trump's demand to cap credit card rates, bankers and lobbyists told CNBC they have yet to receive any formal or written guidance on the policy.
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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.
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bbc.com
Trump plan to cap credit card costs hits bank shares
The US president has called for interest rates on credit cards to be capped at 10% for one year.
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Trump targets credit card rates. What’s at stake for Capital One and other banks
Capital One shares sank Monday after Trump called for a 10% cap on credit card rates, a major profit driver for the company.
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aljazeera.com
Trump wants to cap credit card interest rates at 10%. Would that work?
Capping borrowing costs in the US has bipartisan support, but experts warn of unintended consequences.
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JPMorgan Chase says banks could fight Trump credit card rate cap: 'Everything's on the table'
Banks say a proposed 10% cap on credit card interest rates would result in fewer credit card accounts for Americans and a hit to the U.S. economy.
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Trump's credit card rate threat is hitting the banks. Some traders are calling his bluff
The opportunity may be ripe for investors to buy bank stocks at a discount.
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ft.com
Wall Street hits back at Trump’s plan to limit interest on credit cards
Banks such as Citigroup and Wells Fargo say capping rates would limit credit and hurt economic growth
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usatoday.com
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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Under threat from Trump, Wall Street banks wager they can fend off credit card price controls
Five days after Trump's demand to cap credit card rates, bankers and lobbyists told CNBC they have yet to receive any formal or written guidance on the policy.
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fortune.com
Why a proposed 10% cap on credit card interest is rattling big banks | Fortune
The proposal was a major topic this week during earnings calls.
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Kevin Hassett pivots to possible ‘Trump cards’ amid credit card battle with banks
Trump called for banks to cap credit card interest rates at 10%, an idea that has been roundly rejected by industry executives and their lobbyists this week.
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huffpost.com
Banks Have Only Questions — And No Answers — As Trump's Deadline For A Cap On Credit Card Rates Looms
The White House has not provided any detail about what will happen to credit card companies that don’t lower card rates.