Citi Warns of Potential Economic Slowdown From Trump’s Credit Card Cap

Citigroup Inc. Chief Financial Officer Mark Mason said the lender wants to cooperate with President Donald Trump’s affordability push but doesn’t support his proposed cap on credit card fees.

A “cap would likely result in a significant slowdown in the economy,” Mason said Wednesday on a call with reporters after the bank reported fourth-quarter results. He added that affordability is an important issue that Citi wants to collaborate with the administration on, but “an interest rate cap is not something that we would, or could, support, frankly.”