Business
JPMorgan Execs Warn on a Credit-Card Rate Cap
A blanket 10% interest rate-cap on credit-card loans could be “very bad for consumers” and the economy, JPMorgan Chase’s finance chief, Jeremy Barnum, told reporters Tuesday.
Barnum said credit-card lending was highly competitive. He told analysts that price controls would mean borrowers will lose access to credit, “especially the people who need it the most.”
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