JPMorgan Chase Warns Trump Rate-Cap Proposal Very Bad for Consumers

The JPMorgan Chase & Co. headquarters along Park Avenue in New York on Sept. 20, 2016. Benjamin Chasteen/The Epoch TimesJPMorgan Chase warned on Jan. 13 that President Donald Trump’s proposal for a one-year cap on credit card interest rates would be “very bad for consumers.”On an earnings call with analysts and reporters, JPMorgan Chase CFO Jeremy Barnum pushed back against the president’s idea, saying it would backfire and reduce credit availability.