Bank stocks slide as credit-card rate-cap deadline tests policy

U.S. bank shares fell on Tuesday as investors awaited the Trump administration’s deadline to implement a 10% cap on credit-card interest rates, a policy banks warn could curb lending and sap profits. JPMorgan Chase, Citigroup and Wells Fargo led declines (about -3% to -4%), with Morgan Stanley and Goldman Sachs also down, amid uncertainty over Congressional action and possible compromises such as voluntary rate options or targeted offerings to mitigate impact on consumers.