2 days ago - Shares of credit card companies like American Express, JPMorgan, Citigroup, Capital One and others fell sharply Monday as investors worried about the potential hit to profits these banks may face if an interest rate cap were implemented. In a call with reporters, JPMorgan’s Chief Financial Officer Jeffrey Barnum indicated the industry was willing to fight with all resources at its disposal to stop the Trump administration from capping those rates.

6 hours ago - Five days after the original threat, bankers and their lobbyists told CNBC that they have yet to receive any formal or written guidance from the Trump administration about the policy. The financial sector is keenly focused on two upcoming events for a sense of how the credit card battle will unfold, sources tell CNBC: Senate meetings and the World Economic Forum in Davos.

13 hours ago - In a post on Truth Social last Friday, President Trump called for a "one year cap on Credit Card Interest Rates of 10%." The president has since doubled down on the proposal, saying banks that didn't comply by Jan. 20 would be in violation.

2 hours ago - The president is looking to change the way credit card companies operate

3 days ago - Bank executives were sent scrambling over the weekend after President Donald Trump declared late Friday that American credit card companies would be subject to a 10% cap on the interest rate they can charge customers.

2 days ago - Banks and industry insiders say a proposed 10% cap on credit card interest rates would result in fewer credit card accounts for Americans and a dip in spending for the U.S. economy.

5 days ago - Donald Trump announced a one-year cap that would limit credit card interest rates to 10% this week, in a move that has prompted mixed reaction from lawmakers and beyond.

1 day ago - Trump announced support for a one-year cap of 10 percent on credit card interest rates, writing in a Truth Social post on January 9 that Americans are being “ripped off” by credit card companies “charging Interest Rates of 20 to 30%, and ...

3 days ago - On Friday, Trump wrote on Truth Social that interest rates on cards should be limited to 10% for one year from 20 January. He did not specify how such a cap might be introduced or whether such a move would be legally enforceable.

2 days ago - Speaker Mike Johnson (R-La.) warned that President Trump’s proposal calling for a one-year 10 percent cap on credit card interest rates could have “negative secondary effects.” Johnson told reporters on Tuesday that the proposal is one that the House “ought to think about and ...

3 days ago - Shares in major credit card lenders tumbled in Monday after President Trump late Friday proposed a 10% cap on the fees these cards charge customers.

5 days ago - NEW YORK (AP) — Reviving a campaign pledge, President Donald Trump wants a one-year, 10% cap on credit card interest rates, a move that could save Americans tens of billions of dollars but drew immediate opposition from an industry that has ...

1 day ago - Banks argue that capping rates would fundamentally change how credit cards work. President Donald Trump has set out to cap interest rateson credit cards

1 day ago - Sen. Elizabeth Warren, D-Mass., told CNBC that President Donald Trump reached out on Monday to discuss capping interest rates on credit cards.

2 days ago - Elizabeth Warren of Massachusetts, would prevent Americans from being "ripped off" by card issuers, Mr. Trump said last week in calling for the rate ceiling. By contrast, the cap has drawn pushback from the banking industry. After JPMorgan Chase on Tuesday reported its fourth-quarter results, Chief Financial Officer Jeremy Barnum said the proposed interest rate cap would punish consumers and dent the economy. "Specifically, people will lose access to credit, like on a very, very extensive and broad basis, especially the people who need it the most, ironically," he said.

2 days ago - President Donald Trump has said his plan to impose a temporary cap on credit card interest rates would curb “abuse” by U.S. lenders, but this has faced pushback from the banking industry, and experts question whether his demands, even if ...

1 day ago - Bilt is unveiling three new credit cards with interest rates capped at 10%, days after President Donald Trump threatened lenders that failed to do so. The firm, best known for cards that offer rewards for mortgage and rent payments, will maintain ...