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US politics
from24/7 Wall St.
1 day ago

Stock Market Live January 12: Justice Investigates Fed Chair Jerome Powell, S&P 500 (VOO) Drops

The Department of Justice is investigating the Federal Reserve and Chairman Jerome Powell over a $2.5 billion Washington, D.C. renovation project, prompting market and political fallout.
US politics
fromBusiness Insider
1 day ago

SoFi CEO says Trump's proposed credit card cap would drive people to personal loans, and that's good for SoFi

A proposed one-year 10% cap on credit card interest could reduce card lending profitability and shift consumers toward personal loans.
from24/7 Wall St.
2 days ago

Does 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
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