U.S. Banks Resist Trump's Call for Credit Card Rate Cap

Deep News
01/15

JPMorgan Chase (JPM) has declared it will employ "all possible means" to oppose President Trump's proposal to cap credit card annual percentage rates at 10% for a minimum of one year, with analysts cautioning this could trigger a credit crunch; the business model for airline co-branded cards, such as the partnership between American Express (AXP) and Delta Air Lines, could also be significantly impacted.

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