Core Viewpoint - President Trump has demanded that credit card companies cap interest rates at 10% by January 20, but there is uncertainty regarding the administration's plans and the seriousness of this demand [1][2]. Group 1: Impact on Consumers - If credit card rates are capped at 10%, Americans could save approximately $100 billion in interest annually [3]. - The cap would significantly impact the credit card industry, although it would remain profitable; however, credit card rewards and perks may be reduced [3]. Group 2: Industry Response - Bank lobbyists are uncertain about the White House's intentions and have been trying to understand the implications of the proposed cap [4]. - There have been bipartisan legislative efforts to cap interest rates, but Republican leadership in Congress has shown little support for such measures [4]. Group 3: Regulatory Context - The Dodd-Frank Act prohibits federal bank regulators from setting usury limits on loans, complicating the implementation of Trump's demand without new legislation [5]. - The administration may rely on political pressure rather than formal regulations to influence the credit card industry, similar to previous actions taken with pharmaceutical and tech companies [6]. Group 4: Wall Street Perspective - Wall Street is generally resistant to conflict with the White House, as banks have benefited from the administration's deregulatory policies and tax cuts, which have led to increased investment banking revenues [7].

Core Viewpoint - U.S. banks are facing a significant political challenge in response to President Donald Trump's proposal to cap credit card interest rates, leading to uncertainty within the finance industry regarding their next steps [1] Group 1: Political Context - The call from President Trump represents a direct challenge to the banking sector, which may have to navigate complex political dynamics while addressing consumer interests [1] Group 2: Industry Response - The finance industry is reportedly scrambling to determine how to respond to the proposed interest rate cap, indicating potential divisions or differing strategies among banks [1]

Core Viewpoint - The Trump administration is proposing a 10% cap on credit card interest rates, which has faced opposition from the financial services industry due to concerns over access to credit for millions of consumers [1][2]. Group 1: Proposal Details - President Trump announced a proposed 10% cap on credit card interest rates, set to take effect on January 20, coinciding with the anniversary of his second inauguration [1]. - The proposal may require Congressional action and has been met with significant pushback from the financial services sector [2]. Group 2: Industry Response - National Economic Council Director Kevin Hassett indicated that discussions with major banks have included a "Trump card" aimed at expanding credit access for consumers [3][6]. - Hassett mentioned that large banks are supportive of the idea, suggesting they could voluntarily offer credit to consumers who are financially stable but currently lack access [6]. Group 3: Impact Analysis - The Electronic Payments Coalition (EPC) analyzed the potential impact of the proposed interest rate cap, estimating that 82% to 88% of credit card holders could lose their cards or face significant reductions in credit limits, particularly affecting low- to moderate-income consumers [9]. - EPC's analysis projected that nearly all credit card accounts linked to credit scores below 740 would be closed or severely restricted, impacting approximately 175 million to 190 million credit card holders [10]. - JPMorgan Chase's CFO warned that the proposed cap could lead to reduced access to credit, negatively affecting both consumers and the broader economy [13][14].

KEY TAKEAWAYS Following President Donald Trump's proposal to cap credit card interest rates at 10%, new Bilt credit cards offer rewards for making rent or mortgage payments and a 10% APR for the first year.However, many other credit card companies offer longer introductory periods with APRs as low as 0% for a year and a half.Consumers should be aware that when the introductory period on their credit card ends, the actual APR applies, which can make any remaining balance much higher. New Bilt credit cards ...

Wall Street's largest banks ended 2025 on a strong note and executives struck an upbeat tone for the year ahead, even as U.S. President Donald Trump's proposed cap on credit card interest rates kept the industry on edge. ...

Key Points The 4 biggest U.S. bank stocks were down 5% to 7% this week after reporting earnings. President Trump's proposed 10% cap on credit card interest rates is a huge negative catalyst for the industry. The topic dominated Q4 conference calls. 10 stocks we like better than JPMorgan Chase › Earnings season began, as it always does, with the four largest U.S. banks posting their results from the last quarter. And this cycle kicked off with bank executives raising big red flags about a politica ...

Group 1 - President Trump advocates for lower interest rates, dismissing concerns from JPMorgan Chase CEO Jamie Dimon regarding political interference with the Federal Reserve [1] - Trump criticizes Dimon's stance on a proposed 10% interest rate cap on credit cards, emphasizing the need to protect consumers from high interest rates [2] - Dimon defends the Federal Reserve's independence, warning that political interference could lead to inflation and increased interest rates, which contradicts Trump's objectives [3] Group 2 - The Department of Justice's criminal investigation into Federal Reserve Chair Jerome Powell raises concerns among Republicans, suggesting it could lead to higher interest rates instead of lower ones [4] - JPMorgan Chase's fourth-quarter earnings report indicates a resilient U.S. economy, with consumer spending remaining strong despite a 7% year-over-year decline in net income [5] - The bank's CFO warns that Trump's proposal to cap credit card interest rates could negatively impact credit markets and reshape credit services, particularly affecting subprime borrowers [6]

分组1 - S&P 500 futures are higher following a negative session, indicating a potential market rebound [2] - Goldman Sachs reported earnings of $14.01 per share on $13.45 billion in revenue, though it is unclear if these figures align with Wall Street estimates [3] - Morgan Stanley exceeded analysts' forecasts for the quarter, resulting in a share price increase of over 2% [3] 分组2 - Netflix is likely to modify its acquisition offer for Warner Bros. Discovery's assets to an all-cash deal, which could expedite shareholder voting [8][9] - The anticipated vote on the acquisition could be moved up to late February or early March, compared to the previous expectation of spring or early summer [9] 分组3 - The U.S. government will approve sales of Nvidia's H200 AI chip to China, despite a 25% cut for the government, although it remains uncertain if China will accept these chips [10]

Company Performance - Taiwan Semiconductor (TSM) reported a net profit of NT$506 billion (US$16 billion) for the October-December quarter, marking a 35% increase year-over-year, surpassing analysts' expectations. The company plans to increase its capital expenditure budget to US$52 billion to US$56 billion for 2026, up from approximately US$40 billion last year [4] - Lam Research (LRCX) saw a 6% increase in stock price, with Stifel forecasting a 10% to 15% increase in wafer fabrication equipment spending for calendar year 2026, translating to a year-over-year increase of US$10 billion to US$15 billion, primarily driven by advanced foundry/logic and DRAM [5] Service Disruptions - Verizon (VZ) restored its network services after a nationwide outage that affected over 171,000 customers, primarily due to loss of mobile signal. The company plans to issue account credits to impacted customers [6][7] New Financial Products - Bilt introduced three new credit cards under the Bilt Card 2.0 name, offering a 10% introductory APR for 12 months. The cards are designed to provide rewards on rent and mortgage payments [8][9] - The Bilt Palladium Card has an annual fee of US$495, offering 2x points on everyday spending and a 50,000 sign-up bonus. The Bilt Obsidian Card, with a US$95 annual fee, offers 3x points on dining and groceries, while the Bilt Blue Card has no annual fee and offers 1x points on everyday spending [10][11]

Top executives from the nation's largest financial institutions issued warnings this week during fourth-quarter earnings calls, arguing that President Donald Trump's proposed 10% cap on credit card interest rates would backfire. BAC stock is sinking. See the chart and price action here. The Trump administration framed the proposal as a populist measure to provide relief to debt-burdened Americans. However, banking leaders claim a 10% ceiling—well below current market averages—would force them to stop lendin ...