Big Banks Pushback Against Credit Card Cap & Beyond Meat Launches Protein Drink

What It Covers

Major US banks report mixed earnings with cost pressures and headcount cuts, while Trump's proposed 10% credit card interest rate cap threatens $160 billion annual revenue stream. Beyond Meat pivots to protein drinks amid collapsing core business.

Key Questions Answered

• •Banking efficiency drive: Six largest US banks cut combined headcount by over 10,000 employees in 2025 to lowest level since 2021, with Wells Fargo achieving 22 consecutive quarters of reductions through attrition to lower costs and boost margins.
• •Credit card revenue threat: Banking industry generated $160 billion from credit card interest fees in 2024, up 50% from $105 billion in 2022. Trump's proposed 10% rate cap would significantly reduce profits and restrict credit access according to bank executives.
• •Hollywood compensation shift: Ben Affleck and Matt Damon convinced Netflix to abandon its fixed-fee model for first time, securing performance bonuses for all 1,200 cast and crew members on The Rip, aligning with traditional studio back-end deals that reward box office success.
• •Beyond Meat pivot strategy: Company launches Beyond Immerse protein drink with 20 grams pea protein and fiber equivalent to three cups spinach after sales fell 14% in 2024. Stock down 99% from 2019 peak of $230 per share, now trading as penny stock.