Citigroup CEO Jane Fraser says Congress lacks bipartisan support for Trump credit card rate cap proposal

Jane Fraser jane fraser, the CEO of Citigroup Inc. C, stated on Tuesday that she does not expect the US USCongress to approve credit card interest rate caps suggested by Donald Trump donald trump. Speaking in an interview with CNBC from the World Economic Forum in Davos, Jane Fraserstated that the legislative body lacks the bipartisan support necessary to pass such a measure.

While Jane Fraseracknowledged that Donald Trumpis right to focus on affordability, she argued that capping rates would cut access to credit for a large part of USclients. The executive warned that such a move would have significant unintended consequences for the broader economy and individual consumer choice.