Earnings live: Delta stock slides, Wall Street bank earnings in focus after JPMorgan miss

Core Viewpoint - The proposal to cap credit card interest rates at 10% by President Trump could have significant negative consequences for consumers and the economy, according to corporate executives from major companies [1][3]. Group 1: Impact on Consumers - JPMorgan Chase CEO Jamie Dimon indicated that the implementation of the proposed interest rate cap would be dramatic, potentially limiting access to credit for consumers, particularly those with subprime risk profiles [1][3]. - CFO of JPMorgan, Jeremy Barnum, noted that service changes would likely occur, affecting credit card users with higher risk, leading to increased financial instability for these consumers [2]. - Delta Air Lines CEO Ed Bastian expressed concerns that the proposal would restrict lower-end consumers from accessing credit, fundamentally disrupting the credit card industry [5]. Group 2: Economic Ramifications - Barnum warned that limiting access to credit could have severe negative consequences for the economy as a whole, particularly affecting those who rely on credit the most [3]. - Delta's revenue from its co-branded credit card partnership with American Express grew by 11% year over year, highlighting the importance of credit card revenue streams for companies [4]. - Bastian emphasized the challenges of implementing such a policy, suggesting it could upend the entire credit card industry and create unintended consequences [5].