Despite Saying He Was Holding Credit Card Companies “Accountable,” Zach Nunn Accepted Over $260,000 From The Credit Card Industry…

January 2026: Nunn Praised A Proposed 10 Percent Cap On Credit Card Interest Rates And Said It Was Time To Hold Credit Card Companies And Big Banks “Accountable”

Nunn, January 2026: “Big Banks Need To Be Accountable.” “Iowa families struggling to make ends meet can't afford to pay 30% interest on essentials. Big banks need to be accountable to the communities they serve and answer to Main Street—not just Wall Street. We'll keep fighting for commonsense reforms that bring down rates for every American.” [Zach Nunn, X, 1/12/26]

Image: see original report, p. 25

[Zach Nunn, X, 1/12/26]

January 2026: Nunn Praised A Proposed 10 Percent Cap On Credit Card Interest Rates As “Putting Banks And Credit Card Companies Specifically On Notice.” MARIA BARITROMO: “One analyst tells me this: While well intentioned and politically popular, as President Trump himself has said, the reality is, price controls like this are an affordability killer and will hurt the very Americans this proposal seeks to help the most, killing credit for working families and young people by forcing lenders to stop issuing cards to higher risk and lower income customers. Rate caps would rip credit cards away from households that rely on them to make ends meet. Your reaction to the reaction we're getting this morning from the banks?” NUNN: Well, Maria, I think you would expect to hear that from banks. Some of these banks have gone out of their way and put a real burden on American families. Let's also be candid, there are Americans who are not going to be able to have access if there is a government price control in place, we will see these folks run into the arms of payday lenders. In far worse situations, we will see them go offshore to far less scrupulous individuals than our good living institutions here in the United States. So, like everything the president does, I believe he’s putting banks and credit card companies specifically on notice. They’ve got to reign in these, you know, 30 percent above interest rates.” [Fox Business, Mornings with Maria, 08:07, 1/12/26] (VIDEO)

• Nunn On A Proposed 10 Percent Credit Card Interest Rate Cap: “We Don’t Want Credit Card Companies Living On The Back Of The American Taxpayer.” MARIA BARITROMO: “What are your thoughts on these policies as a way to get rates down? Particularly this rate cap proposal?” NUNN: “Yeah, Maria, I think this is very clear here. We don't want credit card companies living on the back of the American taxpayer. You just saw over a trillion dollars that they have taken out of our economy and cost a lot for working class Americans. I applaud the president in making sure he stands with every American in driving down costs.” [Fox Business, Mornings with Maria, 06:07, 1/12/26] (VIDEO)
• Nunn On A Proposed 10 Percent Credit Card Interest Rate Cap: Banks Had “Put A Real Burden On American Families.” MARIA BARITROMO: “One analyst tells me this: While well intentioned and politically popular, as President Trump himself has said, the reality is, price controls like this are an affordability killer and will hurt the very Americans this proposal seeks to help the most, killing credit for working families and young people by forcing lenders to stop issuing cards to higher risk and lower income customers. Rate caps would rip credit cards away from households that rely on them to make ends meet. Your reaction to the reaction we're getting this morning from the banks?” NUNN: Well, Maria, I think you would expect to hear that from banks. Some of these banks have gone out of their way and put a real burden on American families.” [Fox Business, Mornings with Maria, 06:07, 1/12/26] (VIDEO)

Nunn Has Taken Over $260,000 From The Credit Card Industry, Including Big Banks

HEADLINE: “Nunn Talks Tough On Banks After Taking $260K From Credit Card Industry.” [American Journal News, 5/13/26]

• 2022-2024: Nunn’s Campaign Accepted $68,123 From “Finance/Credit Companies.” [OpenSecrets, Finance/Credit Companies Recipients, accessed 1/13/26]

Image: see original report, p. 26

[OpenSecrets, Finance/Credit Companies Recipients, accessed 1/13/26]

• 2025-2026: Nunn’s Campaign Accepted At Least $38,000 From Credit Card Companies. [FEC, Receipts, accessed 5/10/26]

• Bloomberg: Capital One Was A Credit Card Issuer. “Currently, banks can charge $30 for a first missed payment and $41 for each additional missed payment for the subsequent six months while being immune to lawsuits for excessive fees under rules finalized by the Federal Reserve in 2010, the CFPB said. Only credit card issuers with more than 1 million open accounts, such as JPMorgan Chase & Co., Capital One Financial Corp., and Bank of America Corp., are subject to the CFPB’s rule.” [Bloomberg, 4/17/24]
• Visa Was A Credit Card Issuer. [Visa, Credit Cards, accessed 1/13/26]
• Bloomberg: JPMorgan Chase Was A Credit Card Issuer. “Currently, banks can charge $30 for a first missed payment and $41 for each additional missed payment for the subsequent six months while being immune to lawsuits for excessive fees under rules finalized by the Federal Reserve in 2010, the CFPB said. Only credit card issuers with more than 1 million open accounts, such as JPMorgan Chase & Co., Capital One Financial Corp., and Bank of America Corp., are subject to the CFPB’s rule.” [Bloomberg, 4/17/24]
• Bloomberg: Bank Of America Was A Credit Card Issuer. “Currently, banks can charge $30 for a first missed payment and $41 for each additional missed payment for the subsequent six months while being immune to lawsuits for excessive fees under rules finalized by the Federal Reserve in 2010, the CFPB said. Only credit card issuers with more than 1 million open accounts, such as JPMorgan Chase & Co., Capital One Financial Corp., and Bank of America Corp., are subject to the CFPB’s rule.” [Bloomberg, 4/17/24]
• Mastercard Was A Credit Card Issuer. [Mastercard, Find Your Credit Card, accessed 1/13/26]

• 2022-2024: Nunn’s Campaign Accepted $157,241 In Donations From “Commercial Banks.” [OpenSecrets, Commercial Banks Recipients, accessed 1/13/26]

Image: see original report, p. 28

[OpenSecrets, Commercial Banks Recipients, accessed 1/13/26]

• Q1-Q3 2025: Nunn’s Campaign Accepted At Least $24,000 From Big Banks And Their Allies. [FEC, Receipts Search, accessed 1/20/26; FEC, Iowans for Zach Nunn Q1 2025 Report, Receipts Line 11C, filed 4/15/25; Q3 2025 Report, Receipts Line 11C, filed 10/15/25]

[FEC, Receipts Search, accessed 1/20/26; FEC, Iowans for Zach Nunn Q1 2025 Report, Receipts Line 11C, filed 4/15/25; Q3 2025 Report, Receipts Line 11C, filed 10/15/25]

• Goldman Sachs Was “The World’s Preeminent Investment Bank.” “We are the world’s preeminent investment bank, serving the most influential corporations and institutions with financing, advisory services, and liability management.” [Goldman Sachs, Our Businesses, accessed 1/14/26]
• Wall Street Journal: JPMorgan Chase Was “The Nation’s Biggest Bank.” “JPMorgan Chase reported that the bank’s profit fell 7% in the fourth quarter of 2025, dragged down by a charge from its deal to take

over the Apple credit card program and a surprising slip in investment banking fees. Still, the nation’s biggest bank saw revenue increase for both the quarter and the full-year and was optimistic about the trajectory of the U.S. economy and consumer.” [Wall Street Journal, 1/13/26]

• Bank Of America Had The Second Most Assets Of Any Large Commercial Bank In The Country. [US Federal Reserve Statistical Release, 9/30/25]
• Citigroup Was A “Wall Street Bank.” “Citigroup (C.N), beat Wall Street estimates for fourth-quarter profit on Wednesday, buoyed by a rebound in dealmaking and stronger demand for services to corporate clients. Wall Street banks benefited as M&A picked up late last year. Activity rebounded in the second half after tariff announcements weighed on markets in the first half and the U.S. government shutdown delayed deals.” [Reuters, 1/14/26]
• TD Bank Was “One Of The 10 Largest Banks In The U.S.” “As one of the 10 largest banks in the U.S., TD Bank serves over 10 million retail, small business and commercial customers from Maine to Florida. Read how our strong history, leadership and strategy helped us get here.” [TD Bank, About Us, accessed 1/14/26]
• Regions Was “One Of The Nation’s Largest Full-Service Providers Of Consumer And Commercial Banking.” “Regions Financial Corporation is a member of the S&P 500 Index and is one of the nation's largest full-service providers of consumer and commercial banking, wealth management and mortgage products and services. Regions serves customers across the South, Midwest and Texas.” [Regions, About, accessed 1/14/26]
• Cadence Was “A $53 Billion Regional Bank” In Texas And The Southern Region Of The United States. “Cadence Bank (NYSE: CADE) is a $53 billion regional bank committed to helping people, companies and communities prosper. With more than 390 locations spanning the South and Texas, Cadence offers comprehensive banking, investment, trust and mortgage products and services to meet the needs of individuals, businesses and corporations.” [Huntington Bancshares Incorporates, Press Release, 1/6/26]
• PNC Was A Regional Bank Based In Pittsburgh. “PNC Bank, National Association (PNC Bank) is a Main Street, regional bank headquartered in Pittsburgh, Pennsylvania. PNC Bank provides a range of traditional retail banking, home lending, corporate and institutional banking and asset management products and services. The PNC Financial Services Group, Inc. (PNC) is PNC Bank’s top-tier parent financial holding company. The business and organizational structure of the PNC organization is built predominantly around PNC Bank. As of December 31, 2017, PNC Bank had total consolidated assets of $370.0 billion, representing approximately 97% (before consolidating entries) of the total consolidated assets of PNC.” [PNC Bank 2018 Resolution Plan Executive Summary, Page 3, accessed 1/14/26]
• RBC USA HoldCo Was The “Top-Level Holding Company In The United States” For The Royal Bank Of Canada. “RBC USA Holdco Corporation (Holdco) is a Delaware corporation and a wholly owned subsidiary of Royal Bank of Canada, a Canadian chartered bank (RBC). Holdco is a bank holding company, as well as RBC's top-level holding company in the United States. Holdco is the direct or indirect owner of the majority of RBC's U.S. business operations, including RBC Capital Markets, LLC, RBC Global Asset Management (U.S.) Inc. and City National Bank.” [Morning Star DBRS, RBC USA Holdco Corporation, accessed 1/14/26]
• The American Bankers Association “Proudly Represents Institutions Of All Asset Sizes And Charter Types.” “ABA proudly represents institutions of all asset sizes and charter types. These diverse perspectives drive the development of our daily work and policy positions. Take a look at where we've been, and where we're going.” [American Bankers Association, Our Story, accessed 1/14/26]