Trump’s deadline for a 10% cap on credit card rates confuses bankers

By KEN SWEET

NEW YORK (AP) — President Donald Trump a week ago told the credit card industry it had until Jan. 20 to comply with his demand for a 10% cap on interest rates. So far, consumer groups, politicians, and bankers alike remain unclear on what the White House has planned and whether Trump even remains serious about the idea.

The White House has not provided any detail about what will happen to credit card companies that don’t lower card rates. White House Press Secretary...