EXPLAINED: Will Trumps 10% Credit Card Cap Pass?!?

"if it does not pass, what do you think is going to happen to these credit card issuers after January 20th? They'll most likely recover."

"Or if it does pass, then guess what? This is terrible for these credit card companies because they make a bunch of money off of the interest that they charge these companies. Being capped at that interest means that they'll most likely make less. So therefore, a larger potential sell-off, either, you know, sell or potential short opportunity."

"Now, let's talk about why this most likely wouldn't actually work."

"if this does pass, I believe that only the best borrowers will be given these lines of credit. I think everyone else all these incentives of points, all these incentives of large lines of credit will go away... people with terrible credit just won't have credit cards and that's realistically what will most likely happen."

"Now, can he actually do this? In a very simple answer, no. He does not have the power to, at least not historically speaking. It's Congress that sets these caps."

"if it does not pass, what do you think is going to happen to these credit card issuers after January 20th? They'll most likely recover."

"Or if it does pass, then guess what? This is terrible for these credit card companies... a larger potential sell-off"

"if this does pass, I believe that only the best borrowers will be given these lines of credit. I think everyone else all these incentives of points, all these incentives of large lines of credit will go away."