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JPMorgan Chase

CEO Jamie Dimon on Wednesday advocated for a test of President Donald Trump’s proposed 10% cap on credit card interest rates in two U.S. states: Vermont and Massachusetts.

Dimon, speaking on a panel at the World Economic Forum at Davos, Switzerland, addressed a question about Trump’s order for banks to voluntarily limit their interest rates for a year. The president had called for the lower rates to take effect on Tuesday.

Several large credit card lenders contacted by CNBC on Tuesday said they had made no changes to their interest rates, but they all declined to be identified as defying Trump’s proposal.