Big Bank CFOs Rebuke Trump’s Demand for Rate Cap on Credit Cards
CFOs of big US banks were in the spotlight this week, but not for the reason they expected.
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Welcome to CFO Briefing, a newsletter dedicated to corporate finance and what leaders need to know. I’m Heather Landy, filling in for my colleague Nina Trentmann while she’s on parental leave. This week, we bring you a Q&A with chipmaker TSMC’s Wendell Huang. But first...
In the midst of a huge week for earnings reports from large US lenders, President Donald Trump pressed for a 10% cap on credit-card interest rates. The demand rattled financial stocks and drew harsh criticism from the chief financial officers of big US banks.