Capital 1, Amex shares sink on Trump’s credit-card threat
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American Express stock dips. Time to buy?
Credit card stocks and shares of banks that lend to credit card users took a hit on Monday after President Donald Trump discussed plans to cap credit card interest rates. Shares of American Express (NYSE: AXP) declined approximately 4% on Monday, and the stock continued to fall (albeit only slightly) on Tuesday.
Robin has worked as a credit cards, editor and spokesperson for over a decade. Prior to Forbes Advisor, she also covered credit cards and related content for other national web publications including USA TODAY, NerdWallet, Bankrate and HerMoney. She..
Major US banks have lashed out at Donald Trump’s proposal to cap credit card interest rates to address affordability concerns, warning the move could undercut a crucial source of industry revenue. JPMorgan,