Trump Proposes Capping Credit Card Interest Rates at 10%
President Trump has proposed a cap on credit card interest rates at 10%, sparking discussion in Congress. House Speaker Mike Johnson calls for investigation, citing potential unintended consequences.
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President Donald Trump donald trumphas proposed a bold initiative to cap credit card interest rates at 10%, set to take effect on January 20, 2026. This proposal, unveiled last Friday, has already sparked significant discussion and debate within the political and financial sectors of the US 
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US.House Speaker Mike Johnson mike johnsonresponded on Tuesday by urging Congress to thoroughly investigate the proposal. Johnson expressed concerns about potential unintended consequences, such as a reduction in lending and the possibility of credit card companies imposing lower borrowing limits. He emphasized that implementing such a cap would require legislative action rather than an executive order, highlighting the complexity of translating the proposal into effective policy.
