Buy Now, Pay Later Firms Gain After Trump's Credit Card Rate Cap Plan
Reuters01-12 20:50
Shares of buy now, pay later firms rise premarket after U.S. President Donald Trump calls for one-year cap on credit card interest rates at 10%, starting January 20
Investors say the proposal can push borrowers away from traditional credit cards and toward alternative lenders, including BNPL providers
However, some analysts say imposing a cap on interest rates will require legislation and can exceed the president's authority
Klarna Group plc rises 7%, Sezzle Inc up 5%, Affirm up 4%; Afterpay-owner Block gains 2%.
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