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Banks are knocking President Donald Trump's bid to cap credit card rates.
Guru Stock PicksAndreas Halvorsen has made the following transactions:Add in RRX by 5.71%Stock News Verizon service outage hits users: Verizon (VZ) reported a w
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.
President Trump's announcement blindsided the industry, sending banking shares tumbling across Wall Street this past week.
Pres. Trump discusses recent economic controversy and proposals in front of the press.
Scott Siefers, Piper Sandler, joins 'Closing Bell Overtime' to talk Big Bank earnings including JPMorgan Chase kicking off earnings season with its quarterly report.
JPMorgan CFO Jeremy Barnum warned that President Trump's proposed 10% credit card interest rate cap could hurt the economy and reduce access to credit for consumers who need it most.
Affirm Holdings remains the leading U.S. BNPL platform, with strong execution, resilient credit metrics, and a multi-year growth runway. AFRM's upcoming quarter, covering the robust holiday shopping period, is expected to showcase continued strength as consumer adoption of BNPL accelerates. Potential credit card interest rate caps could structurally benefit BNPL providers like AFRM, driving further market share gains among underbanked consumers.
The Investment Committee give you their top stocks to watch for the second half.
Joe Mazzola with @CharlesSchwab shares his takeaways from the CPI report and thinks the most important part is the impact on fixed income: “if we can continue to have stability” in the 10-year, he says, it can boost the equity market. He thought JPMorgan Chase's (JPM) earnings were “good” but thinks Trump's comments about capping credit card rates are weighing on the financial sector.
President Trump's proposed 10% credit card interest rate cap could eliminate access for 175 million to 190 million cardholders, with lower and middle income consumers hit hardest.
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A proposed cap on credit card interest rates will hurt U.S. consumers and the economy, JPMorgan Chase Chief Financial Officer Jeremy Barnum said on Tuesday.
JPMorgan Chase CFO Jeremy Barnum said the industry could fight President Donald Trump's demand for credit card price controls. Banks and industry insiders say a proposed 10% cap on credit card interest rates would result in fewer credit card accounts for Americans and a dip in spending for the U.S. economy.
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Trump's proposal to impose a one-year 10% cap on credit card interest rates is being met with indifference on Wall Street, as per Jim Cramer.
'Mad Money' host Jim Cramer discusses the DOJ targeting Fed Chair Powell and how it impacts markets and Pres. Trump's attempt to cap credit card interest.
Capital One will reportedly pay $425 million and pay higher interest rates on certain accounts to settle a class action lawsuit alleging that depositors were cheated out of high interest rates.
Bloomberg Television brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today's guests are Former Federal Reserve Governor Betsy Duke, GE HealthCare's Peter Arduini, CFRA's Ken Leon, Zoetis' Kristin Peck, Morgan Stanley's Lauren Hochfelder, Blackrock's Jay Jacobs, Cornell University's Eswar Prasad, PGIM's Cathy Marcus, Elanco Animal Health's Jeff Simmons, Pfizer's Albert Bourla.
The 'Fast Money' traders react to Pres. Trump's calls for credit rate caps.