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Wall Street hits back at Trump’s plan to limit interest on credit cards

Wall Street hits back at Trump’s plan to limit interest on credit cards

14 Ocak 2026Financial Times

🤖AI Özeti

Wall Street is pushing back against former President Trump's proposal to cap interest rates on credit cards. Major banks, including Citigroup and Wells Fargo, argue that such a cap would restrict access to credit and potentially hinder economic growth. The financial sector is concerned that limiting interest rates could lead to reduced lending and increased financial instability.

💡AI Analizi

The backlash from Wall Street highlights the tension between regulatory measures aimed at consumer protection and the financial industry's need for profitability and stability. By capping interest rates, policymakers may inadvertently stifle innovation and access to credit, particularly for higher-risk borrowers. This debate underscores the complexities of balancing consumer interests with the operational realities of financial institutions.

📚Bağlam ve Tarihsel Perspektif

Interest rate caps have been a contentious issue in the U.S., often debated in the context of consumer protection versus economic growth. The financial industry has historically opposed such measures, arguing that they could lead to unintended consequences that may ultimately hurt the very consumers they aim to protect.

This article is for informational purposes only and does not constitute financial advice.