US EditionPublished • loading... • Updated
Trump calls for one year cap on credit card interest rates at 10%
Trump proposes a federal 10% cap on credit card interest rates for one year to protect working-class Americans from rates averaging nearly 20%, requiring congressional approval.
- President Donald Trump proposed capping credit card interest rates at 10% starting January 20, 2026, claiming it would help consumers avoid high rates of 20-30% charged by companies.
- Bill Ackman expressed concern that enforcing a 10% cap could lead to millions losing access to credit, forcing them to seek loans from more dangerous sources.
- Analysts believe Trump's proposal faces slim chances of passing in Congress, as it would require legislative approval.
- Opposition from financial institutions is strong, as they argue that a cap could reduce credit availability and hurt low-income families.
Insights by Ground AI
Podcasts & Opinions
329 Articles
329 Articles
Financials fall as Trump’s credit card rate cap plan rattles investors
U.S. financial stocks and U.K.-listed lenders fell on Monday and weighed on global indexes as U.S. President Donald Trump’s call for a one-year cap on credit card interest rates threatened a key revenue stream for the industry.
·Toronto, Canada
Read Full Article
The US government has not been able to handle inflation as well as it claims, and now it is putting pressure on banks to cap the interest on credit cards for a year - and very quickly. Providers' risks would rise, their share prices would do the opposite.
Coverage Details
Total News Sources329
Leaning Left43Leaning Right53Center148Last UpdatedBias Distribution61% Center
Bias Distribution
- 61% of the sources are Center
61% Center
L 17%
C 61%
R 22%
Factuality
To view factuality data please Upgrade to Premium
