Wall Street hits back at Trump’s plan to limit interest on credit cards
Banks such as Citigroup and Wells Fargo say capping rates would limit credit and hurt economic growth
Banks such as Citigroup and Wells Fargo say capping rates would limit credit and hurt economic growth

There are better alternatives to the Trump-Warren plan to cap interest costs for one year

Lenders say a cap on interest rates is unfair as they need a generous margin in order to offer unsecured credit

President demands one-year limit should come into force on January 20 but gave no details

White House’s demand for limit on what issuers can charge rattles investors

US president backed off his threat of new duties on European economies after market tumult

US lenders expected to cement global dominance by a significant easing of post-financial crisis rules