Wall Street banks face test with Trump's call for credit card rate cap

Core Viewpoint - U.S. banks are facing a significant political challenge in response to President Donald Trump's proposal to cap credit card interest rates, leading to uncertainty within the finance industry regarding their next steps [1] Group 1: Political Context - The call from President Trump represents a direct challenge to the banking sector, which may have to navigate complex political dynamics while addressing consumer interests [1] Group 2: Industry Response - The finance industry is reportedly scrambling to determine how to respond to the proposed interest rate cap, indicating potential divisions or differing strategies among banks [1]