Citi incoming CFO says credit-card rate cap would hurt retail, travel, hospitality

Core Viewpoint - Citigroup's incoming Chief Financial Officer Gonzalo Luchetti highlighted that implementing an interest-rate cap on credit cards would create significant ripple effects across various sectors, particularly in retail and hospitality [1] Group 1: Impact on Retail Industry - The proposed interest-rate cap on credit cards is expected to have extensive implications for the retail industry, potentially altering consumer spending behavior and credit accessibility [1] Group 2: Impact on Hospitality Sector - The hospitality sector may also experience substantial effects due to the interest-rate cap, which could influence consumer travel and spending patterns [1]