Business
Barclays Has ‘Levers’ to Pull if Trump Administration Caps Credit-Card Rates
Barclays, a big player in U.S. credit cards, reckons it has ways to protect that business if the Trump administration pushes through a 10% cap on interest rates.
After the president called for the ceiling last month, shares of Barclays and U.S. card rivals fell. JPMorgan Chase CEO Jamie Dimon said the policy risked “economic disaster.”
Reporting earnings Tuesday, Barclays sounded more sanguine. Chief Financial Officer Anna Cross said the bank can pull a “number of levers,” but there are so many possible outcomes she couldn’t give any financial guidance about the policy.