Bank Execs Say Trump's Credit-Card Interest Rate Idea Is Bad for Consumers—and Business

Key Takeaways Banks are knocking President Donald Trump's bid to cap credit card rates. Lenders this week panned a potential 10% limit on credit card interest rates during conference calls at which executives discussed their latest financial results. Bank leaders were vocal about a cap's potential to cut consumers' access to credit and curtail economic growth—though more circumspect about what it might mean for their business. Profits in the credit card segment are four times the banking industry average, a ...