Benzinga·2026-01-21 15:20Core Viewpoint - Jamie Dimon, CEO of JP Morgan Chase & Co., warned that President Trump's proposed 10% cap on credit card interest rates could lead to an "economic disaster" [1] Group 1: Impact on Consumers - The proposed cap would remove credit access for 80% of Americans, which serves as their backup credit [2] - The consequences of the cap would extend beyond financial institutions, affecting various sectors such as restaurants, retailers, travel companies, schools, and municipalities [2] Group 2: Industry Reactions - The proposal has faced criticism from the financial sector, including disapproval from Citigroup's outgoing CFO Mark Mason [3] - Moody's Ratings indicated that the cap would negatively impact major card-issuing banks by squeezing net interest income, slowing loan growth, and reducing volume-based revenues [3] Group 3: Broader Industry Implications - Experts have warned that the impact could extend to airline loyalty programs, which generate significant revenue from co-branded credit card partnerships [4] - Delta Air Lines reported approximately $2 billion generated from its American Express loyalty partnership in Q3 2025, reflecting a 12% year-over-year increase [4]