Could a cap on credit-card rates really hurt consumers?

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  Could a cap on credit card rates really hurt consumers?

• 01:16

  The impact to us and other banks would just be dwarfed by the severe impact on access to credit and on consumers spending across the country.

• 01:25

  I think we all agree the underlying issue of focusing on affordability is a real issue.

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  Welcome to World Business Report from the BBC World Service I'm Sam Fenwick.

• 01:38

  President Trump wants to cap credit card interest rates at 10% for a year,

• 01:42

  but the big banks warn it could limit lending to the most vulnerable.

• 01:47

  Also today we'll be looking at why prices for metals like copper and tin are hitting record highs.

• 01:59

  So some of the US biggest banks are pushing back against President Trump's proposal to cap credit card interest rates at 10% for 12 months.

• 02:09

  Banking executives warn that such a move could make credit cards unprofitable,

• 02:14

  leading to tighter lending conditions and reduced access to credit,

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