Jan 22nd, 2026
Bank of America, Citigroup Weigh New Credit Cards With 10% Rate
Bank of America and Citigroup are exploring options they could offer up as an olive branch to satisfy President Donald Trump’s demand to cap credit card interest rates at 10% for one year. Saul Martinez, Head of US Financials Research at HSBC says that the proposed 10% cap on credit card interest rates would be difficult to implement without new legislation and is unlikely to materially change bank profitability in the near term. He joined the discussion on "Bloomberg Markets" with Scarlet Fu.
