Bank of America is weighing offering a credit card with a 10% interest rate after President Trump backed a temporary ban on higher rates, according to a person familiar with the matter. Why it matters: Trump shocked Wall Street by aligning with key Democrats on a policy proposal that would sharply limit how banks profit from credit card borrowers.

U.S. banking giant JPMorgan Chase CEO Jamie Dimon warned on Wednesday (January 21) that the Trump administration's proposed 10% cap on credit card interest rates would spell economic disaster, leaving...