Bank CEOs warn rate cap would have 'unintended consequences'

Key insight: Bank CEOs are expressing alarm about the potential impacts of President Trump's call for a 10% limit on credit-card interest rates.What's at stake: Credit-card interest rates are an important source of income for banks with large card portfolios. Enacting a cap would cut into banks' earnings, analysts said.Forward look: Though Trump told banks to implement the rate reduction by Jan. 20, few think the demand will be met.Brian Moynihan is usually very careful to avoid commenting on politics, part ...