Post #3885

🇺🇸Trump's Interest Rate Cap Proposal: Bank Stocks Decline, Capital One Down 8% US bank stocks declined sharply after Trump proposed capping credit card interest rates at 10% for one year, starting January 20. Citigroup, J.P. Morgan, and Bank of America saw pre-market declines of over 2%, while American Express fell nearly 5%. The market expresses concern about the impact on the profitability of financial institutions if the move indeed materializes. Capital One (COF) stock, a consumer credit bank valued at $159 billion, is down 8% following Trump's call for interest rate limits. This proposal is placing major banks under pressure. Minas Tirith | 24/7 News channel | Updated