U.S. Bancorp CEO says Trump's credit card cap will hurt clients and economy
ReutersJan 20, 2026 2:27 PM
Jan 20 (Reuters) - U.S. Bancorp USB.N CEO Gunjan Kedia said on Tuesday President Donald Trump's proposed 10% cap on credit card interest rates would severely impact its clients.
"Our estimate is that 90 plus percent of our clients will see a detrimental impact if there was an across the board 10% rate cap on credit cards. The impact to 50% of the clients will be crushing as it will be for the economy," Kedia told analysts on a conference call.
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