JPMorgan CFO Warns 10% Credit Rate Cap vs 19.7% Average Could Slash Credit Supply
JPMorgan CFO Jeremy Barnum said the industry may litigate President Trump’s demand for a one-year 10% cap on credit card APRs, noting the national average rate is 19.7%. He warned the cap would force issuers to reduce credit card accounts and dent U.S. spending.
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