Bank of America stock: Trump’s 10% card-rate cap and India probe hang over earnings week
Bank of America shares ended lower on Friday after President Donald Trump called for a one-year cap on credit card interest rates at 10% starting Jan. 20, a proposal that banking trade groups warned could squeeze credit availability. Bank of America closed down 0.7% at $55.85, after trading between $55.79 and $56.60. “When companies can’t price the risk properly, they’ll just reduce credit lines,” Annex Wealth Management chief economic strategist Brian Jacobsen wrote in an email.
