President Trump’s proposal to cap credit card interest rates at 10% has sparked concerns among corporate executives like JPMorgan Chase CEO Jamie Dimon, who warned of potential negative impacts on consumers. JPMorgan, the nation’s top credit card issuer, handles $1.34 billion in purchase volume. Consumers, especially those with subprime risk profiles, may face service changes and reduced access to credit if the policy is enacted.

Implementing a one-year credit card APR limit without Congress’s legislation remains uncertain. US House Speaker Mike Johnson has taken up the issue and plans to explore the president’s idea, acknowledging potential unintended consequences. Delta Air Lines CEO Ed Bastian also expressed concerns, noting that restricting lower-end consumers’ access to credit could disrupt the entire credit card industry.

Delta’s partnership with American Express, contributing 13% of its revenue, remains lucrative. Revenue from the co-branded credit card grew by 11% year over year to $8.2 billion in 2025. Bastian highlighted challenges in implementing the proposed credit card interest rate cap, emphasizing the potential impact on lower-end consumers’ credit access and the industry as a whole.

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