What happened: Jamie Dimon, CEO of JP Morgan, criticised Donald Trump's proposal to cap credit card interest rates, saying it could limit Americans' ability to obtain credit.
Why it matters:
- Restricting interest rates might reduce credit availability for consumers.
- Changes could affect millions of Americans relying on credit cards for purchases and emergencies.
MNN Take: Capping interest rates could lead lenders to tighten credit offerings, potentially making it harder for some people to access credit when needed.
Sources: BBC US & Canada