President Trump Proposes 10% Cap on Credit Card Interest Rates

U.S. President Donald Trump has proposed a 10% cap on credit card interest rates for one year that would go into effect on January 20 – an idea that was previously floated during his presidential campaign in 2024. WSJ writes that while low- and middle-income borrowers would be the first to benefit from these caps, banks would likely tighten their lending standards in response and impose fees to make up for lost revenue.  

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