Big banking just got a wake-up call. JPMorgan's sounding the alarm on Trump's proposed 10% cap for credit-card interest rates—and they're not holding back. According to the bank, this move would force massive restructuring across their entire card division. But here's what really stings: they warn it'll actually hurt everyday consumers by tightening credit availability. The message is clear—JPMorgan's ready to challenge this proposal with whatever leverage they've got. It's a classic showdown between executive policy ambitions and Wall Street's resistance, raising questions about how traditional finance regulation could ripple through broader markets.
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Big banking just got a wake-up call. JPMorgan's sounding the alarm on Trump's proposed 10% cap for credit-card interest rates—and they're not holding back. According to the bank, this move would force massive restructuring across their entire card division. But here's what really stings: they warn it'll actually hurt everyday consumers by tightening credit availability. The message is clear—JPMorgan's ready to challenge this proposal with whatever leverage they've got. It's a classic showdown between executive policy ambitions and Wall Street's resistance, raising questions about how traditional finance regulation could ripple through broader markets.