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Alex Jimenez
Alex Jimenez
@AlexJimenez@mas.to  ·  activity timestamp 9 hours ago

Hey Jamie Dimon, what do you think of your boy Trump.? Was it worth it bending your knee?

Trump’s call for 10% credit-card cap aims at banks’ crown jewels

https://finance.yahoo.com/news/trump-call-10-credit-card-143014438.html

#FinTech #FinServ #Banking #Payments #PayTech

Yahoo Finance

Trump’s call for 10% credit-card cap aims at banks’ crown jewels

After a week of jarring markets with announcements aimed at making homes more affordable, the president swiveled to another consumer burden: the cost of carrying a credit card balance from one month to the next. This time, his social-media missive pushed a slew of card issuers led by JPMorgan Chase & Co., Capital One Financial Corp. and Citigroup Inc. into the crosshairs. Card interest rates — hovering above 20% in recent years — have become a target of lawmakers on both sides of the aisle, with bills popping up and meeting stiff resistance from the industry.
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