TRUMP SAYS HE CAN WORK WITH DEMOCRATS ON “FINANCIAL IDEAS” THAT WOULD BE “MUTUALLY GOOD,” BUT DECLINED TO COMMENT ON THE CREDIT CARD RATE CAP - CNBC

Former President Trump said he can work with Democrats on financial ideas that would be "mutually good," but declined to comment on a proposed cap on credit card interest rates, according to CNBC. The transmission channel here runs through bank earnings and consumer credit pricing: a binding rate cap would compress net interest margins at card issuers, which typically earn their highest yields on revolving balances, and would push lenders toward tighter underwriting or reduced credit availability for riskier borrowers. Card-heavy lenders and issuers with large unsecured consumer portfolios would be most exposed, while the vagueness of the comment leaves the policy's scope and timing unresolved, which keeps a risk premium on that group. Traders should watch the next Federal Reserve G.19 consumer credit release and quarterly bank commentary on card net charge-offs and yields for evidence of whether lenders are already repricing for the possibility of a cap.

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