Bank lobby slams Trump's 'devastating' threat to credit card interest

Key insights: Trump has proposed a 10% cap on credit card interest rates. What's at stake: The move follows other attempts to regulate credit card fees. Forward look: Congress would likely have to approve such a move. President Donald Trump's plan to cap credit-card interest rates at 10% was met by angry words from bank lobbyists and market declines for issuers.Processing ContentStocks for credit card issuers and the major card networks fell Monday morning, with Citi, JPMorganChase and Bank of America all f ...