Price controls on credit cards could create shortages like President Nixon's 1971 gasoline controls, forcing consumers toward payday lenders and reducing credit access.
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5 things to know about Trump's proposed 10% interest cap on credit cards
A cap on rates sounds like a dream for borrowers, but experts warn it could turn into a nightmare for some.
The senator says her bill emulates a proposal by the JPMorgan Chase CEO to let states determine their own card interest rate ...
(Bloomberg) -- As part of a series of efforts to make life more affordable, President Donald Trump aims to help Americans with credit-card debt. After demanding on social media that credit-card ...
The federal cap that Trump has proposed would, in theory, prevent issuers from gouging customers. But not everyone agrees it ...
CHARLOTTE — President Donald Trump is calling for a one-year 10% cap on credit card interest rates, starting Tuesday. That’s down from an average of about 22%, according to the Federal Reserve. Many ...
In credit markets, interest rate caps lead to rejected applications, lower credit limits, and tighter underwriting for the highest risk, lowest income borrowers. Why? Because lenders don’t respond to ...
JPMorgan Chase CEO Jamie Dimon issued a stern warning about President Donald Trump's credit card rate cap at the World Economic Forum in Davos on Wednesday, saying that it would be an "economic ...
President Donald Trump called for credit card companies to cap interest rates at 10%, roughly half the industry average, effective Jan. 20. That date arrived, and credit card rates have hardly budged.
By David Shepardson ARLINGTON, Virginia, Feb 19 (Reuters) - The head of the trade group representing major U.S. airlines said ...
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