President Donald Trump called for credit card companies to cap interest rates at 10%, roughly half the industry average, effective Jan. 20.

I think there's been an expectation that banks and credit card issuers probably would respond to this through products, new products that offer, you know, 10% rates or some sort of relief to card hold...

Some of America’s top bankers are warning that the president’s cap on credit card interest rates would prove disastrous for lower-income consumers and the US economy — not to mention their profits.