Delta Air CEO Says Trump Credit Card Cap Will Upend Industry

President Donald Trump’s push to cap credit card interest rates at 10% would hurt banks and lower-end consumers, Delta Air Lines Inc. Chief Executive Officer Ed Bastian said.

“The knock on effects are pretty significant when you think about what seems to be a good idea to help lower income strata and bring some interest-rate relief,” Bastian said in a Wednesday interview on Bloomberg Television.

“The reality is, it will eliminate their ability for credit and freeze up tremendous amounts of credit lines that the banks will not be able to afford.”

Trump earlier this ...