JPMorgan's Jamie Dimon warns Trump's 10% credit card cap would cause ‘economic disaster'

JPMorgan Chase CEO Jamie Dimon on Wednesday warned that President Trump’s 10% credit card cap would force banks to yank credit lines for most Americans – hammering the economy.“Of course we want affordability,” Dimon said during an interview with the Economist at the World Economic Forum in Davos, Switzerland. But the 10% cap “would be a [sic] economic disaster.”“Our business, we would survive it by the way,” he added. “In the worst case, you would have a drastic reduction of the credit card business.”JPMor ...