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Trump's 10% Interest Rate Cap On Credit Cards Will 'Likely Bring On A Recession,' Says Capital One CEO: $6 Trillion Consumer Spending At Stake - Capital One Finl (NYSE:COF), JPMorgan Chase (NYSE:JPM)
Benzinga· 2026-01-23 07:19
Capital One Financial Corp. (NYSE:COF) CEO Richard Fairbank issued a stark warning about the potential consequences of President Donald Trump’s proposed 10% cap on credit card interest rates, saying the move could severely restrict consumer access to credit and destabilize the broader economy.Trump’s Proposal Will Lead To A ‘Recession’During the company’s fourth-quarter earnings call on Thursday, Fairbank argued that “putting a price control in place” will not make credit more affordable, but would instead ...