US Bancorp CEO warns of big hit to clients from Trump's credit card cap

By Arasu Kannagi Basil Jan 20 (Reuters) - U.S. Bancorp CEO Gunjan Kedia warned on Tuesday that President Donald Trump's proposed 10% cap on credit card ​interest rates would significantly impact its clients and the broader economy, echoing concerns ‌raised by the banking industry. "Our estimate is that 90 plus percent of our clients will see a ‌detrimental impact if there was an across-the-board 10% rate cap on credit cards. The impact to 50% of the clients will be crushing, as it will be for the economy ...