Key Points
- Trump proposed a one-year 10% cap on the interest rates that American credit card companies can charge customers.
- Shares of Citigroup, JPMorgan Chase, Wells Fargo, Bank of America, Visa, Mastercard, American Express and Capitol One fell in response.
- It’s unclear how the cap would be enforced, and bank industry insiders say it would have unintended consequences for consumers and the American economy.
