Banks Feel Pressure From Trump’s Credit Card Threats
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President Donald Trump's proposal to impose a 10% cap on credit card interest rates has caused a significant decline in the shares of financial firms. This announcement coincided with the release of major banks' earnings, further amplifying the market's reaction. Ximena Aleman, co-CEO of Prometeo, shares insights on the evolving role of technology and AI in the banking sector during a discussion on 'Bloomberg Tech.'
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📚Bağlam ve Tarihsel Perspektif
Credit card interest rates have been a contentious issue, with high rates often leading to consumer debt. Trump's proposal comes at a time when financial institutions are already navigating a complex economic landscape, including inflation and changing consumer behavior. The discussion around technology's role in banking highlights a broader shift towards modernization in the industry.
This article is for informational purposes only and does not constitute financial advice.
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