Citigroup stock slides as Trump’s 10% credit-card rate cap plan rattles lenders ahead of earnings
Citigroup shares fell 3.5% to $117.03 after President Trump proposed a one-year 10% cap on credit card interest rates, with no details on enforcement. Analysts said such a cap would likely require congressional action. The Supreme Court declined to hear Citigroup’s appeal in a fraud lawsuit tied to its Banamex unit, allowing the case to proceed. Capital One and American Express also dropped sharply.