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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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cnbc.com
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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huffpost.com
Republicans Trash Trump's Credit Card Proposal
Donald Trump is trying to get a grip on “affordability” with a proposal his party can’t stand.
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Sen. Warren says Trump called her to work on credit card interest rate caps
Republicans on Capitol Hill have lightly thrown cold water on capping credit card interest at 10%.
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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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bbc.com
Trump's proposed credit card cap spotlights Americans' debt. Would it help?
President Trump's proposal to cap credit card interest rates at 10% - an idea with bipartisan support - received swift backlash from bank executives.
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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.
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It may come down to Trump using political pressure to force banks to cap interest rates on credit cards | Fortune
“I don’t have a specific consequence to outline for you but certainly this is an expectation and frankly a demand that the president has made.”