President Trump Proposes One-Year 10% Cap on Credit Card Interest Rates
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President Donald Trump has announced a proposal to cap credit card interest rates at 10% for one year, starting January 20, 2026, aiming to alleviate financial burdens on American consumers.
President Donald Trump has proposed a one-year cap on credit card interest rates, limiting them to 10%, effective January 20, 2026. In a post on Truth Social, he criticized current rates of 20% to 30% as excessive and detrimental to consumers. The announcement coincides with the first anniversary of his current term.
The proposal has sparked debate among policymakers and financial institutions. While some lawmakers support measures to reduce consumer debt burdens, others express concern about potential impacts on credit availability and the financial sector's stability. Details on the implementation and enforcement of the proposed cap have yet to be provided.
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