A proposal by US President Donald Trump to set a 10% annual cap on credit card interest rates is poised to cause significant shocks in the financial sector. While presented as a consumer protection measure to shield Americans from 'predatory interest,' the proposal poses a direct challenge to the five largest banks: JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and Goldman Sachs. These banks collectively dominate the US market for credit card issuance and consumer lending.
