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Trump’s Call for Credit Card Rate Cap Sends U.S. and UK Banks Tumbling
U.S. financial stocks and UK-listed lenders fell sharply on Monday after President Donald Trump proposed a one-year cap on credit card interest rates, threatening a significant revenue stream for the sector. Investors are now weighing the impact of the proposal amid ongoing interest-rate uncertainty, a development that may undercut the potential boost from a rotation into value stocks. On Friday, Trump called for a 10 per cent cap on credit card interest rates starting Januar
5 hours ago2 min read
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