Bank executives are tiptoeing around President Trump’s call to temporarily cap credit-card interest rates at 10%, opposing the idea while making sure not to antagonize the White House.

For the federal government to impose a credit card cap on APRs at 10%, Congress would need to pass a law setting a legal ceiling on credit card interest rates.

President Trump is looking to cap credit card interest rates at 10% for one year, here's how it would impact small businesses and consumers.

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.

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The ​White House ‌is weighing an ​executive action to ‍enact U.S. President ​Donald ​Trump’s ⁠call for a cap on credit card interest rates, Bloomberg News ‌reported on Friday, citing ​people familiar ‌with the ‍matter.

Hugh Son, CNBC’s banking reporter, says big banks are rejecting Trump’s 10% credit-card cap, warning they’ll close accounts instead, likely setting up a legal and political showdown as Davos approaches.

Big banks push back on President Trump's proposal to change credit card interest rates. These are today's mortgage and refinance interest rates, which are at their lowest points in over three years and just over 6%.