Why Trump's idea for a 10% cap on credit card rates could backfire, according to UBS

Capital One shares dropped sharply on Trump's call to cap credit card interest.

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• Trump proposed a 10% cap on credit card interest, sending financial stocks tumbling on Monday.
• UBS said the plan would have unintended negative effects.
• Rather than offer cheaper credit cards, many firms would dial back credit availability, UBS said.

President Donald Trump's idea to cap credit card interest could have far-reaching unintended consequences, UBS said on Monday.