US EditionTrump’s credit card interest rate cap is a lose-lose
Trump seeks a temporary 10% cap on credit card interest rates to ease affordability pressures while analysts say the odds of passing the law are only 10% to 15%.
- On Jan. 20, 2026, President Donald Trump proposed a one-year 10% cap on credit-card interest rates, but banks did not comply and enforcement requires Congress.
- Amid an affordability crisis, Trump called for a credit card rate cap and ordered Fannie Mae and Freddie Mac to buy $200 billion in mortgage-backed securities.
- Industry analyses found nearly 90% of cardholders—between 175 million and 190 million Americans—would lose credit access under a 10% cap, while Vanderbilt researchers estimated consumers could save $200 billion annually.
- Bankers reacted by denouncing the plan, with Jamie Dimon calling it an economic disaster and the American Bankers Association warning of harm, while financial markets saw major issuers' stocks fall up to 10 percent.
- With about 80 card issuers, market structure shows limited competition and rising profit margins, complicating long-term reforms, as over $1.2 trillion in debt burdens millions of Americans.
12 Articles
12 Articles
Trump wants to cap credit card interest at 10%. Is that a good idea?
U.S. President Donald Trump has called for credit card interest rates to be capped at 10 per cent — a move that could bring short-term relief to some consumers but is likely to cause a broader credit crisis in the long run, according to experts.
Putting a cap on credit card interest will help in short term, but some experts say it's bad for economy
U.S. President Donald Trump has called for credit card interest rates to be capped at 10 per cent — a move that could bring short-term relief to some consumers but is likely to cause a broader credit crisis in the long run, according to experts.
Kandrach: Unintended consequences to credit card rate cap
Over the last five years, Americans have been grappling with an affordability crisis. As a result, many families are confronting bills they can’t manage. Policymakers are right to give this crisis the attention it desperately deserves. As often happens during a crisis, the best of intentions can lead to some bad ideas. Proposals to cap credit card interest rates are just such an example. Senators Bernie Sanders and Elizabeth Warren are calling f…
Trump's Spotlight On Sky-High Credit Cards: The 41% Usury Trap Devastating America's Working Class – Time For A Balanced Cap - Miami Independent
Image by Douglas Ross Please Follow us on Gab, Minds, Telegram, Rumble, Truth Social, Gettr, Twitter, Youtube Editor's Note: The writer has added multiple links to show media coverage of this issue across multiple outlets. In a shocking revelation that's all too common in today's economy, one American recently opened a new credit card only to discover a maximum interest rate of 41% – a figure that harkens back to the days of loan sharks and Ma…
What would a credit card rate cap mean for you?
Credit card interest can take a balance that seems manageable and make it balloon — sometimes into an amount that feels totally untenable. Part of the problem is how steep interest rates can be, often climbing above 20%. With a rate cap, though, there would be a limit as to how high those rates could reach.The hope in implementing a credit card rate cap is that taking on debt could become less costly for Americans. At least, that is the reason P…
Trump’s credit card interest rate cap is a lose-lose
President Trump started 2026 with new fights on many fronts, including one that may even excite the left-wing flank in Washington — a battle with the consumer lending industry. On Truth Social last week, the president declared Americans will no longer be “ripped off” by the credit card industry, endorsing a one-year cap on interest rates at 10…
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