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"Everything's on the table," an executive at JPMorgan Chase said, as the industry seeks to head off President Trump's effort to cap interest rates.
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You may have more power than you think to challenge your high interest rate, particularly if you have a strong credit score and payment history.
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Bank of America, the second-largest U.S. bank by assets, has been a beneficiary of the industry's recent tail winds.
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Wall Street executives warn Trump: Stop attacking the Fed and credit card industry AP NewsThe biggest hurdle to Trump's credit card proposals? His own party. PoliticoBanks warn consumers will be hurt by Trump's 10% cap on credit card interest rates ReutersJPMorgan Chase says banks could fight Trump credit card rate cap: 'Everything's on the table' CNBC
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Banks say a proposed 10% cap on credit card interest rates would result in fewer credit card accounts for Americans and a hit to the U.S. economy.
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