Trump laid down the law on credit card firms Sunday—comply with a 10% interest rate cap by January 20th, or face legal consequences. No wiggle room here. The demand hits the financial sector where it hurts, forcing a major shift in how card companies operate. Whether lenders can actually absorb the margin compression remains the real question.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Trump laid down the law on credit card firms Sunday—comply with a 10% interest rate cap by January 20th, or face legal consequences. No wiggle room here. The demand hits the financial sector where it hurts, forcing a major shift in how card companies operate. Whether lenders can actually absorb the margin compression remains the real question.