Monday, January 12, 2026 at 1:40 PM
President Trump is proposing a 10% cap on credit card interest rates, significantly lower than the current average of 23%, which could impact credit access and issuer revenues.
Previous proposals to cap interest rates haven’t gained much traction in Congress.
Bank executives are tiptoeing around President Trump’s call to temporarily cap credit-card interest rates at 10%, opposing the idea while making sure not to antagonize the White House.
President Trump’s affordability push ahead of the midterm elections has turned some of the financial sector’s darlings into punching bags.
The president’s push to acquire Greenland threatens higher prices for luxury imports.
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