Trump Proposes Capping Credit Card Interest Rates at 10%

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 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.