JPMorgan pushes back on Trump proposal for credit card fee cap: ‘Everything is on the table'

JPMorgan Chase is pushing back on President Trump’s proposed 10% cap on credit card interest rates, with the bank’s top finance executive warning that the move would be “very bad for consumers” and force a radical overhaul of one of Wall Street’s most profitable businesses.“If it were to happen, it would be very bad for consumers, very bad for the economy,” JPMorgan Chief Financial Officer Jeremy Barnum said on the bank’s earnings call on Tuesday.If the cap is implemented, the company’s credit card operatio ...