Citi Warns of Possible Economic Slowdown From Trump Card Cap
Bloomberg.com • • business
Key Points:
- Citigroup CFO Mark Mason expressed the bank's willingness to support President Trump's push for affordability but opposed the proposed cap on credit card fees.
- Mason warned that implementing a cap on credit card fees could lead to a significant economic slowdown.
- While Citi is open to working with the administration on affordability issues, it does not support interest rate caps on credit cards.
- These comments were made during a call with reporters following Citigroup's fourth-quarter financial results.
