Trump calls for Congress to enact 10% credit card interest rate cap; bank stocks rise

Former President Donald Trump has proposed a 10% cap on credit card interest rates, a move that could significantly impact the profitability of credit card issuers. Despite the potential for reduced revenue, bank stocks, which include major credit card providers, unexpectedly saw a rise, possibly due to investors anticipating that such a cap might be difficult to implement or that banks could find alternative revenue streams.