JPMorgan Chase CEO Jamie Dimon said a 10% credit card interest rate cap would be catastrophic, Reuters reported Wednesday (Jan. 21). Speaking at the World Economic Forum in Davos, Switzerland, Dimon said Wednesday (Jan. 20) that while his bank would weather the disaster, most consumers...
Citigroup Chair and CEO Jane Fraser said Tuesday (Jan. 20) that she does not expect Congress to support the 10% cap on credit card interest rates proposed by President Donald Trump. “There is a very keen understanding that this would have the opposite impact of...
Trust and security have always underpinned payments, but they have become the decisive factors that determine whether a cardholder continues using a credential or pivots to another. Amid instant decisions and real-time commerce, the moment a transaction is accepted or declined can either reinforce confidence...
Earlier this month, President Donald Trump called for a cap on credit card interest rates. Now, the White House is considering executive action to make that 10% cap happen, Bloomberg News reported Friday (Jan. 16). This plan, still being drafted, is part of a broader...
White House National Economic Council Director Kevin Hassett said Friday (Jan. 16) that he expects big banks to offer “great new Trump cards.” Speaking on Fox Business, and asked about President Donald Trump’s proposed 10% credit card rate cap, Hassett said that the ideas come...
Bilt has debuted three credit cards letting homeowners earn points on their mortgage payments. The new cards, announced Wednesday (Jan. 14), have interest rates capped at 10% for 12 months, and arrive days after President Donald Trump called on card issuers to limit rates at that percentage for...
President Donald Trump endorsed a bill that aims to lower credit card swipe fees. “Everyone should support great Republican Sen. Roger Marshall’s Credit Card Competition Act in order to stop the out-of-control swipe fee rip-off,” Trump wrote in a Tuesday (Jan. 13) post on Truth...
A JPMorgan Chase official says the banking industry could fight proposed credit card price caps. Jermey Barnum, the bank’s chief financial officer, made those remarks Tuesday (Jan. 13) during a call with reporters to discuss JPMorgan’s earnings. “If you wind up with weakly supported directives...
President Donald Trump has called for a one-year, 10% cap on credit card interest rates. “Please be informed that we will no longer let the American Public be ‘ripped off’ by Credit Card Companies that are charging Interest Rates of 20 to 30%, and even...