Xin Lang Cai Jing·2026-01-22 18:05Core Viewpoint - Major banks, including Bank of America and Citigroup, are exploring options to meet Trump's proposal of capping credit card interest rates at 10% for one year [1][4]. Group 1: Bank Responses - Bank of America and Citigroup are considering launching credit cards with a 10% interest rate as a potential solution to align with Trump's proposal [1][4]. - Bank executives have previously criticized the proposed cap, stating it could lead to reduced credit limits for consumers [2][5]. - Brian Moynihan, CEO of Bank of America, indicated that the 10% cap could suppress consumer spending, but the bank is in communication with the government regarding this issue [3][6]. Group 2: Government Interaction - Trump has expressed intentions to request Congress to implement the interest rate cap, providing financial institutions with clearer guidance on his objectives [2][5]. - Some bank executives have acknowledged Trump's focus on consumer welfare and are working on plans to support government efforts to lower consumer costs [2][5].