Trump’s 10% credit-card rate cap puts Citigroup stock in focus ahead of earnings week
Citigroup shares closed up 0.6% at $121.32 after Donald Trump proposed a one-year 10% cap on credit-card interest rates, raising concerns for major card issuers. Bank trade groups warned the cap could restrict credit access. Citi will report fourth-quarter earnings Jan. 14, with analysts expecting $1.58 per share on $20.94 billion in revenue. U.S. payrolls rose by 50,000 in December and unemployment fell to 4.4%.