Trump’s Card-Cap Push Hits Republican Roadblocks
TL;DR
Trump’s proposals to cap credit card interest at 10% and back the Credit Card Competition Act face stiff opposition and legal/implementation hurdles in Congress, with House Republicans and several senators expressing skepticism or opposition. While a few lawmakers on both sides show interest, the path to enacting these ideas is uncertain, and the biggest challenge appears to be resistance from his own party.
- The biggest hurdle to Trump’s credit card proposals? His own party. Politico
- Trump Credit Card Cap Would Hit $70 Billion Market for the Debt Bloomberg.com
- Banks warn consumers will be hurt by Trump's 10% cap on credit card interest rates Reuters
- JPMorgan Chase says banks could fight Trump credit card rate cap: 'Everything's on the table' CNBC
- Trump calls for a 10% cap on credit card interest rates NPR
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