Why Trump's idea for a 10% cap on credit card rates could backfire, according to UBS

President Donald Trump's idea to cap credit card interest could have far-reaching unintended consequences, UBS said on Monday. On Friday, Trump posted on Truth Social that he was calling for a one-year, 10% rate cap for credit card interest, stating that the industry has been taking advantage of consumers. The idea sparked a sell-off in major financial stocks on Monday, including Capital One, Synchrony Financial, JPMorgan, and Citigroup. While investors reacted to the latest threat to lenders' bottom li ...