Wall Street’s relationship with Trump has soured after he proposed a 10% cap on credit card interest rates and launched an investigation into Fed Chair Powell. Bank CEOs warned this could harm the economy. Banks fear a cap could cost them $100 billion in lost revenue annually. Major banks vow to fight against the rate cap, saying it will hurt consumers and the economy. Delta Air Lines CEO expresses concern that a cap could restrict access to credit for lower-end consumers. Trump endorses a bill that would cut bank revenue from credit card transactions. Trump refuses to back down on the credit card interest rate issue, despite pushback from Wall Street. Major banks are reporting quarterly results amidst this turmoil. JPMorgan and Bank of New York Mellon reported results, with others to follow.

Read more at Yahoo Finance: Stop attacking the Fed and credit card industry