Banks and Credit Card Firms See Shares Fall as Trump Calls for Interest Rate Cap

US President Donald Trump proposed capping credit card interest rates at 10% for one year from 20 January. The proposal has caused shares in banks and credit card firms to fall, with Barclays down 3.5%, American Express down 4%, Visa down 1.2%, and Mastercard down 2%. US banking associations have warned that capping rates will make it harder for people to access credit and be "devastating" for millions of families and small businesses.