US Bancorp CEO Warns That Proposed Rate Cap Will Have Crushing Impact On Customers
U.S. Bancorp reported strong quarterly profits today. However, its CEO warned a proposed ten percent credit card rate cap could harm most of its clients.
Insights:
Gunjan Kedia gunjan kedia, the chief executive officer of U.S. Bancorp , issued a stark warning on Tuesday regarding President Trump's proposed 10% cap on credit card interest rates. As the industry faces a January 20 deadline for clarity on the proposal from the Trump administration, Gunjan Kediastated that more than 90% of the bank's clients would see a detrimental impact. The executive cautioned that the effect on 50% of the bank's customers would be crushing, noting that such a move would have a similarly crushing effect on the economy of the United States 
US.
US.Despite these regulatory concerns, U.S. Bancorpreported fourth-quarter profits that beat analyst expectations. The lender earned $1.26 per share in the final quarter of 2025, topping consensus estimates of $1.19. U.S. Bancorp, which is the fifth-largest lender in the United Statesand one of the biggest credit card issuers in the United States, ended the year with $31 billion in credit card loans. The bank, which is mainly a prime lender, noted that rate cuts from the Federal Reserve have lifted loan demand and boosted earnings across the top consumer banks in the United States.
