Wall Street banks Bank of America, Citigroup, and Wells Fargo all reported increased profits, healthy dealmaking, and resilient consumers. Despite risks, CEOs expressed optimism about the U.S. economy. However, President Trump’s recent push to cap credit card interest rates has caused tension between the banks and the White House. Bank executives argue that an interest rate cap would harm the economy and limit credit access. The banks reported strong financial metrics, with Bank of America posting a profit of $7.6 billion and Wells Fargo earning $5.36 billion. Both banks saw growth in credit card spending and stable credit metrics.

Read more at Yahoo Finance: Big banks report soaring profits amid tensions with Trump over credit card interest rates