News Brief: JPMorgan Suggests Banks May Challenge Trump’s Proposed Credit Card Rate Cap
Summary
JPMorgan Chase’s CFO indicated the banking industry may legally challenge former President Trump’s proposal to cap credit card interest rates at 10%, warning it would reduce credit availability and harm the economy.
Key Points
- Industry Resistance: JPMorgan CFO Jeremy Barnum stated “everything’s on the table,” including litigation, to fight what the bank sees as an unjustified directive.
- Proposed Cap: Trump’s demand calls for a one-year 10% cap on credit card rates, far below the current national average of 19.7%.
- Predicted Consequences: Banks argue the cap would force them to reduce the number of credit card accounts, limiting consumer credit and overall spending.
- Enforcement Uncertainty: There is no existing U.S. law capping rates, and it’s unclear how the mandate would be enforced. A similar congressional bill is stalled.
- Broader Industry Concern: Airlines and retailers (e.g., Delta Air Lines) that profit from card partnerships warn the cap would “upend” the industry.
- Political Caution: House Speaker Mike Johnson urged careful consideration to avoid negative secondary effects while trying to lower costs.
新闻简报：摩根大通暗示银行业可能挑战特朗普的信用卡利率上限提议
摘要
摩根大通首席财务官暗示，银行业可能对前总统特朗普提出的将信用卡利率上限设定为10%的提议发起法律挑战，并警告称这将减少信贷可用性并损害经济。
关键点
- 行业抵制：摩根大通CFO杰里米·巴纳姆表示，为对抗这项被视为不合理的指令，”所有选项都在考虑之中”，包括诉讼。
- 提议的上限：特朗普要求将信用卡利率上限设定为10%，为期一年，远低于目前全国平均19.7%的水平。
- 预期后果：银行认为，利率上限将迫使他们减少信用卡账户数量，从而限制消费者信贷和整体支出。
- 执行不确定性：美国目前没有法律设定利率上限，且该指令将如何执行尚不明确。一项类似的国会法案也已陷入停滞。
- 更广泛的行业担忧：依赖信用卡合作获取利润的航空公司和零售商（如达美航空）警告，该上限将”颠覆”整个行业。
- 政治上的谨慎：众议院议长迈克·约翰逊敦促在试图降低成本的同时需谨慎考虑，以避免负面的连锁效应。
Original Article Link: https://www.cnbc.com/2026/01/13/trump-credit-card-rate-cap-jpmorgan-chase-banks-fight.html