Wall Street Banks Lobby Trump Administration at Davos Over Credit Card Rate Caps
Financial leaders are meeting with officials to shape cost of living policies. Banks are offering alternatives to interest rate caps to protect credit access.
Insights:
Major Wall Street banks are actively engaging with officials from the administration of donald trump at the World Economic Forum in Davos to influence policy responses to the president's affordability proposals. This high-level engagement occurs as the 
US government looks for ways to lower the cost of living ahead of critical mid-term elections. Banks are specifically pushing back against a proposed 10 percent cap on credit card interest rates while suggesting alternative measures, such as expanded retirement fund withdrawals and tax-free home sales for older homeowners.
US government looks for ways to lower the cost of living ahead of critical mid-term elections. Banks are specifically pushing back against a proposed 10 percent cap on credit card interest rates while suggesting alternative measures, such as expanded retirement fund withdrawals and tax-free home sales for older homeowners.
