Citi (C) CFO says they cannot support a credit card interest rate cap. Such a cap would have a detrimental impact on the economy and restrict access to credit - conference call
Importance
Level 1
- US consumer is resilient.
- Credit card spend by clients is up 5%
- Credit card cap could have unintended negative consequences.
- Still preparing for Banamex IPO after a sale of 25% stake to an investor.
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