Klarna CEO backs Trump's 10% credit card cap, criticizing rewards as built on poorer borrowers' debt

Klarna CEO Sebastian Siemiatkowski has expressed support for President Donald Trump's call to cap US credit card interest rates at 10% for one year. "I think Trump is wise here and is proposing something that makes a lot of sense," Siemiatkowski told CNBC on Monday.Siemiatkowski said traditional credit cards are designed to push consumers to put most or all of their spending on credit and carry large balances at high interest rates. That structure, he said, incentivizes people to borrow as much as possible ...