North America Associated Press
Trump Proposes One-Year 10% Cap on Credit Card Interest Rates Amid Bank Resistance
President Donald Trump is pushing for a one-year, 10% cap on credit card interest rates, a move that could save Americans tens of billions of dollars, but banks have expressed opposition to the proposal.
President Donald Trump is pushing for a one-year, 10% cap on credit card interest rates, which could potentially save Americans tens of billions of dollars. The proposed rule change has drawn resistance from banks and other industry groups. Critics argue that the cap would lead to higher fees and reduced lending standards. Banks have expressed concerns about the impact on their bottom line and ability to lend to consumers.
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