Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec. (Source: Bloomberg)

President Donald Trump on Friday called for a one-year cap on credit card interest rates at 10%, effective Jan. 20, without specifying details. It’s not clear whether credit card companies will respond to his call, or what actions he might take to force any change. The post comes as the Trump administration intensifies efforts to demonstrate to voters that the president is addressing concerns about costs and prices that have emerged as a central issue in the November midterm elections. Bloomberg's Nathan Dean joins to discuss what this means for Congress and the US consumer on Bloomberg Intelligence. (Source: Bloomberg)

The Trump administration is illegally trying to cripple the Consumer Financial Protection Bureau by refusing to ask the Federal Reserve for funds needed to run the independent regulator, a group of mostly Democratic-led states said in a federal lawsuit.