Bank of America, Citigroup consider new credit cards with 10% rate, Bloomberg News reports

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Reuters

Thu, January 22, 2026 astatine 11:27 AM CST 1 min read

Jan 22 (Reuters) - Bank of America and Citigroup are considering options to connection caller recognition ‌cards with an involvement complaint headdress ‌of 10% to fulfill President Donald Trump's demands, Bloomberg News reported connected Thursday.

Both banks are weighing ⁠the caller cards ‌as a imaginable solution to the cap, the ‍report said, citing radical acquainted with the matter.

Citigroup and Bank of America did not instantly respond to ‌Reuters' petition for comment.

Trump said connected Wednesday helium would inquire Congress to o.k. a 10% involvement complaint headdress connected recognition cards ⁠for 1 year.

Industry executives have warned the move would punctual a pullback connected lending and curb economical ‍growth, ⁠though immoderate experts reason recognition cards are highly profitable and ⁠have country for little rates.

(Reporting by ‌Utkarsh Shetti successful Bengaluru; Editing ‌by Alan Barona)