business leaders respond trump plan cap credit card interest rate 2026

Business leaders like klarnas ceo support the cap , while major banks and investors warn of risks. · donald trump proposes a 10% cap on credit card interest rates starting . · 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. Yahoo is using openai to generate summaries for this content. But banks are pushing back. Ai-generated content sometimes contains inaccurate or incomplete information. · president donald trump noted at the detroit economic club that hes calling to cap credit card rates at 10 percent for a year. Click on a trending topic to learn more about it. · president donald trump ’s proposal for a one-year, 10% cap on credit card interest rates has struck a chord in debates about affordability — and set up a potential clash with wall street. President donald trump ’s call for a one-year cap on credit card interest rates threatened a key revenue stream for the industry. Financial stocks and u. k. -listed lenders fell on monday and weighed on global indexes as u. s. · the us president has called for interest rates on credit cards to be capped at 10% for one year. · president trump revived a campaign promise to cap interest rates , but it is unclear how he would make that a reality.