Danny Berger

He goes through the Bank of America history saying that we do things like trying to limit overdraft fees.

We have various product suites to help Americans exactly with this, with affordability.

And we are standing by the administration to help them.

On this specific issue of credit card caps on interest rates, they say it is firmly in the public debate arena and that the issues are well understood and nothing more to add.

For an avoidance of doubt, if it were to happen, it would be very bad for consumers.

It would be very bad for the economy.

Saying that in this scenario, if you do get rates capped at 10%, it would just mean less credit available.

This is a question that Jamie Dimon took himself.

He said that he has enormous respect for Jerome Powell, even though he doesn't agree with all of his decisions, saying everyone believes in Fed independence.

Anything that chips away at that is not a good idea and it would raise rates over time.