Trump calls for 1-year 10% cap on credit card interest rates
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Trump's proposed 10% credit card interest cap could materially impact banks with high credit card exposure, notably Capital One and Synchrony. COF's portfolio is now over 56% credit card balances, making it especially vulnerable to regulatory changes targeting interest rates.
Credit card debt is an embarrassment to many Americans. It is especially embarrassing, apparently, to people who earn a lot.