Banking Leaders Oppose Proposed Ten Percent Credit Card Rate Cap in Davos
Major banking executives warned that a proposed 10 percent interest rate cap would hurt consumers. The policy clash occurred at the World Economic Forum today.
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Major US 
USbanking executives utilized the World Economic Forum in Davos on January 21, 2026, to publicly oppose a proposal by President Donald Trump donald trumpthat would place a 10 percent cap on credit card interest rates. The proposal, which Donald Trumpintroduced earlier in January 2026 to address cost-of-living concerns ahead of upcoming congressional elections, has set the stage for a significant regulatory conflict between the administration and the financial sector. In a post on Truth Social on January 20, 2026, Donald Trumpcalled on companies to comply with the directive immediately.
USbanking executives utilized the World Economic Forum in Davos on January 21, 2026, to publicly oppose a proposal by President Donald Trump donald trumpthat would place a 10 percent cap on credit card interest rates. The proposal, which Donald Trumpintroduced earlier in January 2026 to address cost-of-living concerns ahead of upcoming congressional elections, has set the stage for a significant regulatory conflict between the administration and the financial sector. In a post on Truth Social on January 20, 2026, Donald Trumpcalled on companies to comply with the directive immediately.
