Bank lobbyists, many who have been spending much of the past week scrambling to figure out what the White House has planned for their industry, have been left in the dark. When it comes to credit card rates, the messaging out of the bank lobbying groups and bank executives has been two-fold: They have pushed back on the cap but in the same breath have offered to work with the White House. While effectively a promotional rate that other credit card companies have used in the past, Bilt’s move could provide an example of how the credit card industry can meet the White House's demands without fundamentally destroying their business model.
Author: Ken Sweet
Published at: 2026-01-17 19:16:03
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