Wells Fargo CFO says credit card rate cap to impact credit availability

Reuters

01/14

<a href="https://laohu8.com/S/EOD">Wells Fargo</a> CFO says credit card rate cap to impact credit availability

Jan 14 (Reuters) - Wells Fargo CFO Mike Santomassimo said on Wednesday that U.S. President Donald Trump's proposed 10% cap on credit card interest rates would impact credit availability for consumers.

"As others have really pointed out over the last few days, there would be significant negative impact to credit availability for a wide spectrum of people and it would have a negative impact on economic growth if this type of cap was mandated," Santomassimo told reporters on an earnings call.

(Reporting by Arasu Kannagi Basil in Bengaluru and Nivedita Balu in Toronto; Editing by Sriraj Kalluvila)

((ArasuKannagi.Basil@thomsonreuters.com;))

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