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U.S. Bank Stocks Fall As Investors Weigh Credit Card Rate Cap Deadline
U.S. bank stocks fell in morning trading in a broader market decline, as investors awaited clarity on whether the Trump admin's Jan. 20 deadline to implement a 10% cap on credit card interest rates will take effect.
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fortune.com
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.”
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huffpost.com
U.S. Bank Stocks Fall As Investors Weigh Credit Card Rate Cap Deadline
U.S. bank stocks fell in morning trading in a broader market decline, as investors awaited clarity on whether the Trump admin's Jan. 20 deadline to implement a 10% cap on credit…
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cnbc.com
Trump calls for Congress to enact 10% credit card interest rate cap; bank stocks rise
The episode may show the limits of President Trump's ability to cajole the financial industry into voluntarily giving up billions of dollars in revenue.