JPMorgan Chase CEO Jamie Dimon called President Donald Trump's proposed 10% cap on credit card interest rates an "economic disaster." He suggested the U.S. government should test the cap in two states: Vermont and Massachusetts.
JPMorgan Chase CEO Jamie Dimon said on Wednesday a proposed 10% cap on credit card interest rates by the Trump administration would be an economic disaster.
Some investors focus on companies with rapidly growing dividends, such as Visa. Other investors prefer a slow and steady dividend grower like Realty Income.
Citigroup CEO Jane Fraser said on Tuesday she does not expect Congress to approve caps on credit card interest rates as suggested by president Donald Trump.
U.S. bank stocks fell in morning trading on Tuesday in a broader market decline, as investors awaited clarity on whether the Trump administration's January 20 deadline to implement a 10% cap on credit card interest rates will take effect.
A proposed 10% credit card rate cap could trigger a significant sell-off in financial stocks if enacted. While intended to help consumers, the cap risks harming Americans long-term by disrupting bank profitability and credit access. MA and V, despite not setting APRs, would see lower transaction volumes due to stricter card issuance, pressuring valuations.
Warren Buffett made some substantial changes to the Berkshire Hathaway Inc. NYSE: BRK.B portfolio in the first quarters of 2025, including selling off some $4 billion in Apple Inc. NASDAQ: AAPL shares in order to amass a major cash and Treasuries reserve.
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