Trump's proposed 10% credit-card rate cap could squeeze issuers like Capital One while leaving payment networks less exposed for a year.
4:15pm: New records Traders cast aside concerns about the Fed’s independence on Monday, sending stocks to new all-time highs. The Dow Jones rose 0.2% to...
1:45pm: In the green The three major stock indexes all edged into positive territory in the early afternoon as investors shrugged off Fed independence...
Stock News Risk-off after DOJ probe of Fed chair: Bank shares including JPMorgan (JPM), Bank of America (BAC), Citigroup (C) and Capital One (COF) fell as futur
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Shares of banks and credit card companies moved lower after US president Donald Trump proposed capping interest rates on cards to 10% for a year starting...
Trump threatens "severe" consequences if credit card rates aren't cut to 10% by Jan 20, declaring high rates a "violation of the law."
On the surface, a 10% cap on APRs could mean a big hit to credit-card companies' earnings. But a Jefferies analyst thinks it's “highly unlikely” that Trump gets his way.
Bill Ackman criticized credit card rewards programs, saying low-income consumers end up subsidizing benefits for wealthy cardholders.
President Donald Trump on Friday called for credit-card companies to cap the interest rates they charge customers, as the president leans harder into addressing consumers' affordability concerns.
President Donald Trump announced on his social media platform Truth Social that he will impose a one-year cap on credit card interest rates at 10%, effective Jan. 20, the one-year anniversary of his s
Carrying credit-card debt has become increasingly expensive over the past several years, but some warn that lower interest rates could reduce credit access.
Previous proposals to cap interest rates haven't gained much traction in Congress.
President Donald Trump said that he would impose a 10% cap on credit card interest for one year. The announcement is the latest in a series of economic proposals the president has made this week.
U.S. President Donald Trump said on Friday he was calling for a one-year cap on credit card interest rates at 10% starting January 20 but he did not provide details on how he planned to make companies
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