Dimon backs a two-state test of a 10% credit card rate cap
TL;DR Summary
JPMorgan Chase CEO Jamie Dimon called Trump’s proposed 10% cap on credit card interest an 'economic disaster' and proposed testing the policy in Vermont and Massachusetts to observe its impact on lending and consumers, signaling that price controls could shrink the credit market; banks oppose the idea, and Dimon said JPMorgan would share its analysis with the administration.
- Jamie Dimon says U.S. should impose Trump's credit card rate cap in Vermont and Massachusetts CNBC
- JPMorgan CEO Dimon warns credit card rate cap will be an economic disaster Reuters
- JPMorgan’s Dimon warns of ‘economic disaster’ if credit card rate cap is implemented CTV News
- Wall Street banks face test with Trump’s call for credit card rate cap The Globe and Mail
- Trump called for a 10% cap on card rates by Jan. 20. What happened? USA Today
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