Wells Fargo CFO says credit card rate cap to impact credit availability
ReutersJan 14, 2026 12:45 PM
Jan 14 (Reuters) - Wells Fargo CFO Mike Santomassimo said on Wednesday that U.S. President Donald Trump's proposed 10% cap on credit card interest rates would impact credit availability for consumers.
"As others have really pointed out over the last few days, there would be significant negative impact to credit availability for a wide spectrum of people and it would have a negative impact on economic growth if this type of cap was mandated," Santomassimo told reporters on an earnings call.
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