from24/7 Wall St.
2 days agoDoes Trump's 10% Credit Card Rate Cap Make Visa and Mastercard a Buy?
He cited affordability concerns and criticized rates of 20% to 30% under the prior administration. This move represents yet another unprecedented government intrusion into the marketplace by his administration, potentially disrupting how banks price credit and manage risk. While aimed at easing consumer burdens, it raises questions about enforcement, as Trump provided no details on implementation - whether through executive action or congressional legislation. Banking groups quickly opposed it, warning of reduced credit availability.
US politics