Bank Stocks Plunge After Trump Targets Credit Card Interest Rates

TLDR Donald Trump announced plans for a 10% cap on credit card interest rates beginning January 20, 2026, in a Truth Social post Friday. Bank stocks including JPMorgan, Citi, and Bank of America fell between 2-4% in Monday premarket trading following the announcement. Current credit card interest rates average around 20%, with some reaching 30% [...]

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