JPMorgan warns against Trump push to cap credit card interest rates

A proposed cap on credit card rates would “significantly change” JPMorgan Chase's business and harm its customers, the bank warned Tuesday, after President Donald Trump called for the policy earlier this month. “If it were to happen, it would be very bad for consumers, very bad for the economy,” JPMorgan's CFO Jeremy Barnum said Tuesday on an earnings call, adding that the bank’s card operation “would be a business that we would have to significantly change” if it came into place. “Our ‌belief is that a ...