U.S. Bancorp CEO says Trump's credit card cap will hurt clients and economy
Reuters
Jan 20
<a href="https://laohu8.com/S/USBOV">U.S. Bancorp</a> CEO says Trump's credit card cap will hurt clients and economy
Jan 20 (Reuters) - U.S. Bancorp USB.N CEO Gunjan Kedia said on Tuesday President Donald Trump's proposed 10% cap on credit card interest rates would severely impact its clients.
"Our estimate is that 90 plus percent of our clients will see a detrimental impact if there was an across the board 10% rate cap on credit cards. The impact to 50% of the clients will be crushing as it will be for the economy," Kedia told analysts on a conference call.
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.