Core Viewpoint - Bank of America and Citigroup are considering offering credit cards with a 10% interest rate in response to President Trump's demand for a cap on rates, which has raised concerns about its potential impact on consumer spending and credit availability [1][2]. Group 1: Company Responses - Bank of America CEO Brian Moynihan expressed that a 10% interest cap would slow consumer spending and limit credit availability, although he acknowledged the legitimacy of affordability issues behind the proposal [3]. - Citigroup Chair and CEO Jane Fraser stated that the proposed cap would restrict access to credit, potentially benefiting only the wealthy and negatively impacting sectors reliant on credit card spending [4]. - JPMorgan Chase CEO Jamie Dimon warned that a 10% cap would be catastrophic, removing credit access for 80% of Americans who rely on it as backup [5]. Group 2: Industry Reactions - The proposal for a 10% cap on credit card interest rates has faced criticism from various industry groups, including the Bank Policy Institute and the American Bankers Association, highlighting concerns over its implications for credit access and consumer spending [7]. - Trump initially called for the cap in a post on Truth Social, emphasizing the need to protect the public from high-interest rates charged by credit card companies [6].

Core Viewpoint - Bank of America and Citigroup are considering offering credit cards with a 10% interest rate in response to President Trump's demand for a cap at that level for one year, aimed at benefiting consumers burdened by high interest rates [1][4]. Group 1: Company Actions - Bank of America and Citigroup are separately evaluating credit card options with a 10% interest rate [1][3]. - Shares of Bank of America and Citigroup increased by 1.2% and 1.8%, respectively, following the news [3]. - Bank of America CEO Brian Moynihan indicated that the bank is working on solutions to address affordability concerns while discussing the implications of a 10% cap [5]. Group 2: Industry Reactions - Financial executives from Citigroup and Wells Fargo expressed concerns about the potential negative effects of a 10% cap on credit card interest rates, with JPMorgan's Jamie Dimon warning it could lead to reduced credit availability for many consumers [7][8]. - The 10% cap is part of Trump's broader efforts to address the affordability crisis in the U.S., which includes other measures like a $200 billion mortgage bond-buying initiative [10]. Group 3: Market Context - The proposal for a 10% cap on credit card interest rates is seen as a response to consumer complaints about high rates, which can range from 20% to 30% [4]. - New York-based startup Bilt recently introduced credit cards with a 10% APR for the next 12 months, indicating a shift in the market towards lower rates [9].

Core Viewpoint - The proposed 10% credit card interest rate cap by President Trump is being questioned by Bank of America's CEO Brian Moynihan, who believes it could negatively impact consumer spending and credit availability [2][3]. Group 1: Impact on Consumer Spending and Credit Availability - Moynihan stated that implementing the cap would slow down consumer spending and limit credit availability, which may not align with the intended goals of the proposal [2][3]. - The banking industry argues that the cap would lead to a reduction in credit access, forcing consumers to seek less reliable and more expensive alternatives, such as payday loans [4]. Group 2: Industry Reactions - JPMorgan Chase CEO Jamie Dimon echoed Moynihan's concerns, suggesting that the cap could remove credit access for 80% of Americans, who rely on it as backup [5]. - Citigroup CEO Jane Fraser expressed skepticism about Congress supporting the 10% cap, indicating a broader industry consensus on the potential negative consequences of the proposal [5][6]. Group 3: Importance of Credit in the Labor Economy - Research indicates that a significant portion of low-wage workers, specifically those earning less than $25 an hour, rely heavily on credit, accounting for about 15% of U.S. consumer spending [6]. - The PYMNTS Intelligence report highlighted that 33.8% of workers in this low-wage cohort typically carry a revolving credit balance, compared to under 25% for the larger population [7].

Morgan Stanley did everything right to justify a big bank at record highs. The bank achieved impressive earnings, experienced significant growth in wealth management, and implemented a strategy that was more effective than just hype. It's no surprise that Bank of America analysts reiterated a buy rating and raised its price objective to $220, with the stock changing hands at $191.23 when the report dropped. "The blueprint is in place," the analysts noted. Morgan Stanley management does not have to promi ...

美国银行和花旗集团正在探索各种方案，试图向特朗普伸出橄榄枝，满足他提出的"将信用卡利率上限 设在10%、为期一年"的要求。 周四，美国银行首席执行官Brian Moynihan表示，10%的上限会抑制消费者支出，但他指出银行一直在 就此与政府进行沟通。 "我们正在努力，"Moynihan周四在接受采访时表示，"我们正在尝试提出解决方案。" 责任编辑：陈钰嘉 美国银行和花旗集团正在探索各种方案，试图向特朗普伸出橄榄枝，满足他提出的"将信用卡利率上限 设在10%、为期一年"的要求。 知情人士透露，两家银行考虑的一个潜在方案是推出利率为10%的信用卡。因涉及隐私信息，知情人士 要求匿名。 知情人士透露，两家银行考虑的一个潜在方案是推出利率为10%的信用卡。因涉及隐私信息，知情人士 要求匿名。 美国银行和花旗集团的代表均拒绝置评。 本周早些时候，特朗普表示他将要求国会执行这一提案，这让金融机构对他追求的具体路径有了更清晰 的了解。银行高管此前对该上限表示谴责，称这将导致贷款机构不得不下调对消费者的信用额度。 部分高管已公开表示，他们认同特朗普对民生的关注，目前正在酝酿的方案旨在配合政府降低消费者成 本的努力。 包括美 ...

Core Viewpoint - Bank of America and Citigroup are considering options to meet President Trump's request to limit credit card interest rates to 10% for one year [1] Group 1 - Bank of America is exploring potential solutions to address the interest rate cap demand [1] - Citigroup is also evaluating options to comply with the proposed interest rate limitation [1]

Bank of America and Citigroup are considering options to offer new credit cards with an interest rate cap of 10% to satisfy President Donald Trump's demands, Bloomberg News reported on Thursday. ...

Core Insights - The gaming sector is starting 2026 with a focus on online sports betting, despite softer trends in Las Vegas, regional casinos, and Asia affecting near-term expectations [1] Group 1: Online Betting Trends - BofA updated forecasts for Las Vegas, regional casinos, and Macau, while reviewing recent online betting trends and earnings for DraftKings and Flutter Entertainment [2] - Gaming stocks declined approximately 9% in the fourth quarter and into January, with U.S. operators down about 4%, Macau names off 13%, and digital gaming stocks falling 23% [3] - DraftKings is positioned for a strong fourth-quarter performance, while FanDuel faces more pressure due to weaker betting handle and concerns around promotional intensity [4] Group 2: Las Vegas Market Analysis - Fourth-quarter estimates for Las Vegas remain modestly below Street expectations, with BofA's forecast about 1% below consensus for the Strip and roughly 2% below for MGM Resorts [5] - Las Vegas locals are outperforming, with BofA's estimates running above consensus [6] Group 3: Regional and Asian Markets - Macau's fourth-quarter EBITDA is expected to align with Street expectations, driven by strength at MGM China, with BofA slightly above consensus [7] - Marina Bay Sands in Singapore may modestly outperform expectations, supported by events like Formula One and improving hotel metrics [8] - Regional casinos show strength led by MGM Resorts and Boyd Gaming, but potential weakness is noted for Penn Entertainment due to increased competition in Louisiana [8]

白宫在达沃斯的招待会上排除了美国银行首席执行官布赖恩·莫伊尼汉，这个招待会上包括了其他主要 金融机构的领导人，这标志着特朗普与美国第二大银行行长之间的裂痕。 据知情人士透露，以及报道提到的嘉宾名单，莫伊尼汉是唯一一位未被邀请参加周三晚在世界经济论坛 上举行的特朗普招待会的主要华尔街银行首席执行官。 这次冷遇是白宫第二次将莫伊尼汉排除在此类聚会之外。去年11月，特朗普也没有邀请他参加白宫为华 尔街高管们举办的晚宴。 相比之下，其他美国银行的首席执行官，包括摩根大通的杰米·戴蒙、花旗集团的简·弗雷泽和富国银行 的查理·沙夫，都在达沃斯的招待会名单上。 66岁的莫伊尼汉因"去银行化"问题而惹怒了白宫，部分人士怀疑一些人或公司因政治观点等原因被不公 正地拒绝提供银行服务。 特朗普曾指控莫伊尼汉个人拒绝为他开设银行账户，此前摩根大通在特朗普于2021年离开白宫后关闭了 他的账户。 特朗普在8月表示："布赖恩当时在我当总统时一直在讨好我。" 尽管如此，总统也公开批评过戴蒙，并威胁起诉摩根大通因"去银行化"问题，但他与戴蒙的关系更为和 谐。 在周三的达沃斯会议期间，戴蒙发表了支持特朗普关于北约和欧洲政策的言论。 白宫在达沃 ...

Key Points The lender skillfully rode the wave that was the U.S. economy in 2025. Said economy had its lumpy times during the year, but these weren't reflected in the bank's results. 10 stocks we like better than Bank of America › 2025 will go down in history as a banner year for U.S. banking stocks. Bank of America (NYSE: BAC), did particularly well, with its shares rising by more than 25% in value across those 365 days. Strong quarterly results throughout the year, yet another solid showing in ...