Trump pitches 10% cap on credit card interest, drawing industry pushback
TL;DR
President Trump proposes a 10 percent cap on credit card interest rates, a move aimed at affordability that could lower borrowing costs for consumers but may restrict lenders’ ability to extend credit, prompting pushback from banks.
Topics:businesseconomy#banking-and-credit-regulation#credit-card-debt#donald-trump#economy#federal-reserve-system#personal-finance
- What Trump’s proposed 10 percent cap on card rates could mean for you The Washington Post
- Trump, AOC and Bernie: Capping credit card rates unites right and left as banks issue warnings NBC News
- Trump’s affordability pledge strikes directly at the heart of Wall Street’s profit engine CNN
- Trump floated a 10% credit card interest rate cap. Here's what that could mean for consumers. CBS News
- Wall Street banks face test with Trump's call for credit card rate cap Reuters
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