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Five days after Trump's demand to cap credit card rates, bankers and lobbyists told CNBC they have yet to receive any formal or written guidance on the policy.
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President Trump revived a campaign promise to cap interest rates, but it is unclear how he would make that a reality.
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Bank of America, the second-largest U.S. bank by assets, has been a beneficiary of the industry's recent tail winds.
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When politicians get involved with central-bank decisions, inflation, the dollar and the stock market all become less predictable.
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"Everything's on the table," an executive at JPMorgan Chase said, as the industry seeks to head off President Trump's effort to cap interest rates.
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S&P 500 books back-to-back losses as tech sells off, Bank of America slides after earnings: Live updates CNBCNasdaq leads Wall Street lower as tech and bank shares tumble Honolulu Star-AdvertiserStock market today: Dow, S&P 500, Nasdaq futures slip amid upbeat bank earnings, Iran fears Yahoo FinanceStock Market Today: S&P 500 Slips After Bank Earnings; Gold, Silver Hit Records — Live Updates The Wall Street Journal
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The Chapter 11 filing announced on Wednesday for the iconic, century-plus-old retailer — which oversees Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman and Saks Off 5th — could ripple through to other parts of the industry
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