ARLINGTON, Virginia Feb 19 (Reuters) – The head of the trade group representing major U.S. airlines said Thursday a proposal to cap credit-card interest rates at 10% could have massive repercussions for aviation and could lead to fewer passengers and fewer airplanes. “If they start capping credit cards at 10% or start minimizing the small […]
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Top US airline lobbyist says capping credit card interest rates at 10% could harm industry
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ARLINGTON, Virginia Feb 19 (Reuters) – The head of the trade group representing major U.S. airlines said Thursday a proposal to cap credit-card interest rates at 10% could have massive repercussions for aviation and could lead to fewer passengers and fewer airplanes.
“If they start capping credit cards at 10% or start minimizing the small 2% fee that they get charged on the credit cards, it’ll have a massive repercussion, economic effect across this industry,” said Airlines for America CEO Chris Sununu at an aviation summit. President Donald Trump said on January 10 he was calling for a one-year cap on credit card interest rates at 10% starting on January 20.
(Reporting by David Shepardson, Editing by Franklin Paul)