Bessent tells banks deregulation makes up for 10% rate cap
By: Ebrima Santos Sanneh | Published: 2026-01-20 16:53:25 | Source: www.nationalmortgagenews.com
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- Key insight: Treasury Secretary Scott Bessent avoided confronting the rate cap directly, but argued banks already are benefitting from deregulation elsewhere.
- Supporting data: Bessent argued that banks enjoy trillions in extra lending capacity, freed up by the unwinding of compliance standards.
- Forward look: The White House appears increasingly serious about passing a credit card interest rate…
