US EditionTrump calls for one year cap on credit card interest rates at 10%
Trump says a 10% cap could save Americans $100 billion annually while pushing banks to reduce high credit card interest rates seen as burdensome by consumers.
- This coming week, President Donald Trump urged credit card issuers to cap interest charges at 10% for one year starting January 20, while U.S. banks and financial-sector ETFs slid following his comments.
- Supporters framed the move as consumer relief and pointed to analyses cited by supporters showing sizable borrower savings from lower caps, with some Democrats including Senator Elizabeth Warren backing the idea.
- Capital One and other issuers tumbled, with Capital One down more than 10% and Citigroup 5%, while Mark Mason warned a cap would have a deleterious impact and Ted Rossman said, 'They would find it dramatically more difficult to access credit.'
- The drops pushed payment networks and ETFs down; XLF declined 4%, Visa fell 4.5%, and some analysts see it as a buy-the-dip opportunity, said CFRA Research.
- Traders warned a cap would need new legislation, noting the White House lacks votes and U.S. Congress must act; analysts said the political and implementation hurdles remain steep.
364 Articles
364 Articles
Will Trump’s 10% credit card rate limit actually help consumers?
President Donald Trump wants to make it more affordable for Americans to go into debt. The president says banks should cap credit card interest at 10% for a year — an idea that elicits some applause from borrowers and a lot of consternation from finance companies.Trump’s proposed cap could “save Americans billions of dollars,” said Axios, but banks “warn of consumers losing access to credit.” The idea has drawn support from progressives like Sen…
Trump wants to cap credit card interest to 10% for a year. Should Australia consider it?
US President Donald Trump has called for a one year cap on credit card interest rate charges at 10% – around half of the average current US rate – starting from January 20. Vanderbilt University analysis from September last year found there were “astronomical profit margins in the [US] credit card market”. It concluded a 10% cap could save Americans as much as US$100 billion (A$149 billion) a year. But it also found likely unintended consequence…
Dr. Peter Navarro: The Credit Card Mafia Fears a 10% Cap - Stephen K Bannon's War Room
Peter Navarro compares credit card companies to the mafia, saying their business model depends on charging extreme interest rates that trap Americans in debt. WATCH THE CLIP BELOW: Aired on January 14, 2026. Transcript begins below and may contain minor errors. Credit Card Interest Shock STEVE BANNON (HOST): Dr. Peter Navarro, one of the senior advisors to the President of the United Stat…
The US bank Citi has charged against the president of the United States (US) for wanting to limit to 10% the interest rates that credit cards can have in the country. According to the entity, this measure can have serious consequences, harming the economy and access to credit by the Americans. The truth is that the late payment with credit cards in the US is in historical highs after overcoming the barrier of the crisis of 2008. Thus, according …
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