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Klarna CEO calls credit cards interest rates an 'extraction machine,' backs Trump's proposed 10% rate cap

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2 hours ago

Klarna CEO Sebastian Siemiatkowski expressed support for President Donald Trump’s push to cap credit card interest rates at 10% during an interview with "The Claman Countdown" Monday, despite opposition from much of the banking industry."Revolving credit card interest is nothing but an extraction machine," Siemiatkowski said. "I think that President Trump is super wise and willing to take on the banks on behalf of the U.S. consumers."President Trump has called for a 10% cap on credit card interest rates. Tuesday marks the deadline for credit card companies to respond to the proposal.THIS BLACK...

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