US banks need to cut their credit card rates
There are better alternatives to the Trump-Warren plan to cap interest costs for one year
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

Banks such as Citigroup and Wells Fargo say capping rates would limit credit and hurt economic growth

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

Average time to complete a deal has fallen to four months

Monetary policy is not meant to get as exciting as it has with the Trump administration’s attacks on the Fed