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JPMorgan CEO and Trump Clash Over Credit Card Rate Cap Proposal

JPMorgan CEO and Trump Clash Over Credit Card Rate Cap Proposal

Author:

Global Cryptocurrency

Published:

2026-01-21 19:39:02

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BTCCSquare news:

JPMorgan Chase CEO Jamie Dimon issued a stark warning at the World Economic Forum in Davos, asserting that capping credit card interest rates WOULD sever credit access for 80% of Americans. Dimon emphasized that credit cards serve as a critical financial safety net for most households during cash crunches.

President Donald TRUMP countered with renewed support for a 10% rate ceiling during his Davos appearance, targeting what he called excessive credit card profits exceeding 50% margins. The proposal, first floated earlier in January, triggered immediate backlash from banking groups and a sell-off in financial stocks as investors priced in potential revenue losses.

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