U.S. Bancorp CEO Gunjan Kedia warns that President Trump’s proposed 10% cap on credit card interest rates would greatly impact clients and the economy. Most clients would be negatively affected, with 50% facing a crushing impact. Investors await clarity on whether the rate cap will take effect, with analysts saying legislation is needed and unlikely to pass. Kedia mentions exploring options to help customers in the short term and increase financial education. The bank reported a fourth-quarter profit that beat analysts’ expectations, driven by increased interest payments and fee revenue. U.S. Bancorp expects between 4% and 6% revenue growth in 2026, excluding the proposed acquisition of BTIG.

Read more at Yahoo Finance: US Bancorp CEO warns of big hit to clients from Trump’s credit card cap