Credit card and credit card issuer stocks fell on Monday in premarket hours after President Donald Trump late on Friday called for a one-year cap on credit card interest rates at 10%. His remarks drew immediate opposition from major banking groups.

Trump called for the cap on Friday, without detailing how the plan would be implemented, while Wall Street analysts said such a move would require legislation and has slim odds of getting clearance.

For banks and card issuers, those high rates and associated fees are a major source of profit.