Trump’s Proposed Cap on Card Rates Could Crimp Access to Credit, Says Wells Fargo
The president suggested capping credit card rates at 10% for one year, a move to address voter complaints about the cost of living. The proposal has gotten a cool reception from Wall Street, and analysts have said that if it takes effect it would force banks to drop lower-income credit card customers. "We certainly share concerns about affordability issues that many families are having across the country,†Santomassimo said during a call with reporters Wednesday. "I think it's also important that many people ...