Trump's Push To Cap Credit Card Rates Will 'Dramatically' Reshape Lending, Says JPMorgan's CFO: Warns of 'Negative Consequences' - JPMorgan Chase (NYSE:JPM)

Banking giant JPMorgan Chase & Co.’s (NYSE:JPM) CFO, Jeremy Barnum, has warned that President Donald Trump’s proposal to cap credit card interest rates could have a far-reaching impact on the credit markets, particularly on subprime borrowers. Will ‘Dramatically’ Reshape CreditDuring the company’s fourth-quarter earnings call on Tuesday, Barnum said, “people will lose access to credit on a very, very extensive and broad basis,” while adding that the move was likely to impact the “people who need it the most ...