Republicans on Capitol Hill have lightly thrown cold water on capping credit card interest at 10%.

A 10% rate cap would make large swaths of the credit card industry unprofitable, especially tied to customers with less-than-ideal credit, banks say.

The US president has called for interest rates on credit cards to be capped at 10% for one year.

President Donald Trump called for a 10% cap on credit card interest rates. Here's what experts say that could mean for cardholders, if implemented.

Republicans on Capitol Hill have lightly thrown cold water on capping credit card interest at 10%.

President Donald Trump noted at the Detroit Economic Club that he's calling to cap credit card rates at 10 percent for a year. But banks are pushing back.

The proposal was a major topic this week during earnings calls.

Trump called for banks to cap credit card interest rates at 10%, an idea that has been roundly rejected by industry executives and their lobbyists this week.

President Trump's proposal to cap credit card interest rates at 10% - an idea with bipartisan support - received swift backlash from bank executives.