Wall Street skeptical Trump's proposed credit card rate cap will advance
Yahoo Finance·2026-01-12 18:18

By Manya Saini Jan 12 (Reuters) - U.S. President Donald Trump's proposal to cap credit card interest rates at 10% has grabbed headlines but would require legislation ​and has slim odds of passing, Wall Street analysts said. Credit cards are a ‌cornerstone of U.S. consumer finance, giving households flexible access to credit but often at hefty rates, which can ‌make balances costly to carry. For banks and card issuers, those high rates and associated fees are a major source of profit. For years, Washing ...

Wall Street skeptical Trump's proposed credit card rate cap will advance - Reportify