Trump cap credit card interest rates at 10pc - Bankerna protesterar

However, the proposal is facing a backlash over fears it will force banks to cancel cards and pull back lending to consumers with the lowest credit scores.

On Monday, the American Bankers Association (ABA), which represents major lenders like JP Morgan, hedge fund billionaire Bill Ackman and the Bank Policy Institute (BPI) all rounded on Mr Trump over the plan.

https://www.telegraph.co.uk/business/2026/01/12/almost-8bn-wiped-off-uk-banks-trump-eyes-credit-card-rate/

The average US credit-card interest rate was 21.5% in May 2024

Households had $986 billion in credit-card debt


Morgan Stanley’s debt-underwriting revenue came in at $785 million for the last three months of the year. 
That brought total investment-banking fees to $2.41 billion 
Hannah Levitt Bloomberg January 15, 2026 

 
JPMorgan Chase’s investment-banking fees  
The biggest US bank generated $2.35 billion from the business in the last three months of 2025


Goldman Sachs blew through expectations for equities-trading revenue, netting an all-time Wall Street record of $4.31 billion in the final three months of last year.
 
Goldman Sachs’s profit $4.62 billion in the quarter


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