The proposal was a major topic this week during the earnings calls of America’s big banks. Executives broadly agree a 10% cap would reduce access to credit for higher-risk borrowers and could have adverse effects on consumer spending and growth, Morningstar director Sean Dunlop told me.

And while President Donald Trump's recent proposal to cap credit card interest rates at 10% may sound like a positive step on its face, diving deeper into the details reveals unintended consequences f...

The cap could help borrowers pay off credit card debt faster with less interest.