Thoughts on White House Threat to Credit Card Companies?

So Trump wants to force credit card companies to reduce their rates to 10%. What a blatant Democrat move. Government interference in the free markets is the democrats playbook. Now this is a RINO move. First of all, it’s a dead on arrival move. You don’t like credit card rates? Buy your shet with cash then. If this were to happen, you will see credit card companies freeze up credit.
As someone who has managed credit card portfolios I can tell you that cost of money plus losses from non paying customers exceed 10%. Non bank lenders run around 8% loss rates. Banks who are much picker on who they grant credit cards to run around 4% loss. Thats before cost of money and overhead costs.
Enough of government interference and bullshet regulations. You want to see the credit markets freeze up?

https://www.theguardian.com/us-news/2026/jan/10/trump-credit-card-interest-rate-cap

• This topic was modified 7 hours, 13 minutes ago by BigBalls.