Bill Ackman says Trump's call for a one-year cap on credit card interest rates 'a mistake'

Jan 9 (Reuters) - U.S. hedge fund manager Bill Ackman said on Friday that U.S. President Donald Trump's call for a one-year cap on credit card interest rates at 10% starting on January 20 "is a mistake".

"Without being able to charge rates adequate enough to cover losses and earn an adequate return on equity, credit card lenders will cancel cards for millions of consumers," Ackman said in an X post.