Big banks report soaring profits amid tensions with Trump over credit card interest rates

Wall Street is seeing positive results as big banks report increased profits. Bank of America, Citigroup, and Wells Fargo have all shown strong earnings. Bank of America CEO Brian Moynihan says the U.S. economy remains resilient despite risks. However, tensions with the White House are rising. President Donald Trump is pushing to cap credit card interest rates at 10%, which banks oppose. They argue it would limit credit access and harm the economy. Despite these challenges, consumer spending and financial health metrics remain stable, indicating a robust economic environment.