Jim Cramer Says 'Wall Street Doesn't Seem To Care' About Trump's 10% Cap On Credit Card Rates, Warns 'Millions' Will Lose Access To Credit

Jim Cramer highlighted that Wall Street is indifferent to President Trump's proposal for a one-year 10% cap on credit card interest rates, which requires Congressional approval. He warned that this cap could lead to millions losing access to credit, particularly affecting those with lower credit scores. Cramer noted that high interest rates are necessary for lenders to justify risks associated with subprime borrowers. Despite a temporary recovery, bank stocks closed lower, with significant declines in companies like Capital One. Banking organizations expressed concerns about potential limitations on credit availability for consumers.