Trump's 10 percent cap on credit cards may hurt more than some imagine [USA TODAY]
Visa Inc. (V)
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Source: USA TODAY
Bankers argue that the proposal is often framed as consumer-friendly, but consumers could face reduced access to affordable credit. Some 47 percent of credit cardholders report having a credit card balance, according to a new survey by Bankrate.com. About 1 in 5 debtors don't think they'll ever pay it off. President 's call for putting a one-year, 10 percent cap on credit card rates certainly catches the eye — and no surprise, has caught the wrath of bankers. Consumers are fed up with the outrageously high interest rates being charged on their credit cards. Banking experts say 10 percent is way too low to keep lending to riskier consumers with weak credit histories. In his speech to the Detroit Economic Club on Tuesday, Jan. 13, at the MotorCity Casino Hotel, Trump called "affordability" a fake word that Democrats like to use. He said many prices, such as gas prices, already have come down to help consumers. At the same time, though, Trump noted in his Detroit speech that h
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V
Earnings
- 10/28/25 - Beat
V
Sec Filings
- 1/9/26 - Form PX14A6G
- 1/7/26 - Form PX14A6G
- 1/5/26 - Form 4
- V's page on the SEC website