Credit Card Business Model

Trump, credit card

Wall Street hits back at Trump’s plan to limit interest on credit cards

Major US banks have lashed out at Donald Trump’s proposal to cap credit card interest rates to address affordability concerns, warning the move could undercut a crucial source of industry revenue.

· 2d · on MSN

Trump's 10 percent cap on credit cards may hurt more than some imagine

· 23h · on MSN

Trump’s credit card threats rain on banks’ earnings parade

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As Trump's deadline for a cap on credit card rates looms, banks have only questions and no answers

President Donald Trump a week ago told the credit card industry it had until Jan. 20 to comply with his demand for a 10% cap on interest rates.

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US weighs executive action to cap credit card rates, Bloomberg News reports

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Trump’s affordability pledge strikes directly at the heart of Wall Street’s profit engine

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Boston College economist weighs in on President Trump’s 10% credit card interest cap proposal

This week, Massachusetts Senator Elizabeth Warren said she’d be willing to work with the President to create this cap.

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Cracks Begin to Appear at the Nation’s Biggest Banks

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President Donald Trump's Proposed 10% Interest Rate Cap on Credit Cards Could Have Unintended Consequences

Why Banks Are So Worried About a 10% Credit Card Rate Cap

President Trump revived a campaign promise to cap interest rates, but it is unclear how he would make that a reality.

Daily Journal

Americans would save $100B if credit card rates were capped as Trump proposed, researchers say

The banking industry is adamantly against any caps on credit card rates. Historically, the industry has argued that any cap on interest rates would decimate the credit card business model and would threaten the viability of popular rewards and perks programs that millions of Americans use for free flights and hotel stays.