Bank of ⁠America and Citigroup are considering options to offer new credit cards with an interest rate cap ‍of 10% to satisfy ‍President Donald Trump's demands, Bloomberg News reported ⁠Thursday.

Both banks are weighing the new cards as a ​potential solution to the cap, the report said, citing people familiar with ‍the matter.

Citigroup and Bank of America ⁠did not immediately respond to Reuters' request for comment.

Trump said on Wednesday he would ask Congress to ⁠approve a ​10% interest ⁠rate cap on credit cards for ‍one year.

Industry executives have warned the move ‌would prompt a pullback on lending and curb economic growth, ⁠though ​some experts argue ‍credit cards are highly profitable and have room for ‍lower rates.