KeyCorp Increases Prime Lending Rate to 7.00 Percent

Why it matters locally: Wyoming residents and businesses with loans tied to the prime rate, such as some credit cards, home equity lines of credit, or small business loans, will likely see increased interest payments as a result of this rate hike.

CLEVELAND — KeyCorp, the financial services company, announced an increase in its prime lending rate. The company and its banking affiliates raised the rate to 7.00 percent from its previous 6.75 percent. This adjustment takes effect on Thursday, September 17, 2026. Borrowers whose loans, such as certain credit cards or lines of credit, are benchmarked against the prime rate will see this change reflected. KeyCorp's history in banking spans more than two centuries, originating in Albany, New York.