Citigroup stock price rises as Citi weighs 10% credit card option amid Trump rate-cap push
Citigroup shares rose 1.4% to $115.43 in afternoon trading on Thursday after Bloomberg News reported the lender is weighing new credit cards charging 10% interest, a potential answer to President Donald Trump’s push for a one-year cap on card rates. Bank of America is considering similar cards, a source familiar with the matter said, while Citi declined to comment. Bank of America was up 0.8%, JPMorgan added 0.5% and Wells Fargo gained 2.6%, while the S&P 500 tracker SPY rose about 0.5%.