Cracks Begin to Appear at the Nation's Biggest Banks

Friday, January 16, 2026

This week, Bank of America, Citi, JPMorgan and Wells Fargo released fraught earnings reports as President Trump's threatened cap on credit card rates loomed large.

Posted by qcp at 08:33 PM | 13 COMMENTS | permalink | Comment on This Entry |

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Kevin Hassett on Trump's 10% cap on credit card interest rates: "Our expectations is that it won't necessarily require legislation because there will be great new Trump Cards provided voluntarily by the banks."

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-- Aaron Rupar (@atrupar.com) Jan 16, 2026 at 9:35 AM

Comments

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they could always stop shoveling out billions for sports stadiums.

let the billionaire owner build the ---- things.

#1 | Posted by shrimptacodan at 2026-01-15 03:45 PM | Reply | Newsworthy 1

PEDO DONNIE is a ------- traitor

#2 | Posted by LegallyYourDead at 2026-01-15 08:29 PM | Reply | Newsworthy 1

lower rates would cause them to lend less to riskier borrowers with patchier credit

IOW: Charge everyone the same rate irrespective of their credit history and in this way, people with better credit support those that don't.

If banks really wanted to demonstrate the truth of that statement, they would peg their interest rates to the credit worthiness of the card holder!

#3 | Posted by FedUpWithPols at 2026-01-17 10:08 AM | Reply

I don't agree with the 10% cap on CC interest anymore than I agreed with student loan forgiveness. People who sign up for these loans made that agreement on their own. No one forced them to do it.

I have 2 credit cards and I pay 0% interest because I do not carry a balance. I have in the past carried a balance but tt was for a few months and I planned on how to manage that until I paid it off.

For the record, I do not judge people who choose to use credit cards and carry a high balance, but it's not for me. And it certainly shouldn't be my problem if this swamps their personal finances to the point the President feels the need to step in.

#4 | Posted by lfthndthrds at 2026-01-17 11:57 AM | Reply

I don't agree with the 10% cap on CC interest anymore than I agreed with student loan forgiveness.
#4 | Posted by lfthndthrds

Of course you don't!

How much did you take out in forgiven PPP loans?

#5 | Posted by snoofy at 2026-01-17 12:28 PM | Reply

Also, it's good to know youre not a Christian.

That helps center the discussion.

Do you believe morality exists? If so, what is the basis of morality?

#6 | Posted by snoofy at 2026-01-17 12:29 PM | Reply

"For the record, I do not judge people who choose to use credit cards and carry a high balance"
--LftHndThrds

"No one forced them to do it."
--Also LftHndThrds

You don't even realize you judged them, do you?