Trump pushes 10% credit card rate cap for a year, facing banking pushback
TL;DR
President Trump renews a pledge for a one-year, 10% cap on credit card interest, a plan that could save Americans about $100 billion annually but faces opposition from banks and some lawmakers who warn it could curb lending and push consumers to higher-cost options; lawmakers in both parties are discussing potential legislation.
- Banks balk as Trump pushes for 1-year, 10% cap on credit card interest rates PBS
- 'This is a mistake President': Bill Ackman responds to Trump's call for a one-year 10% cap on credit card interest Business Insider
- Trump calls for a 10% cap on credit card rates in his latest appeal to affordability concerns CNN
- Trump announces one-year 10% cap on credit card interest rates The Guardian
- Banks criticize Trump’s push for 10 percent credit card interest rate cap The Washington Post
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