Big Bank CFOs Reject Trump's Credit Card Rate Cap Proposal

Big US bank CFOs have rebuked President Trump's demand for a 10% cap on credit-card interest rates. Citigroup's Mark Mason, JPMorgan's Jeremy Barnum, and Wells Fargo's Mike Santomassimo have criticized the proposal, warning it would harm consumers and the economy. This rare public rebuke comes after the White House's attempts to roll back protections against racist lending practices were similarly criticized by bank executives during Trump's first term.