Trump Administration at Center of Financial and Legal Storms

The Trump administration faces backlash over proposed financial caps, legal probes, and administrative actions. U.S. banks argue against Trump's credit card interest rate cap; legal actions erupt against immigration enforcement and military demotions; and contentious Supreme Court rejections and DOJ investigations highlight governance challenges.

The Trump administration is encountering significant opposition on multiple fronts, from financial institutions to state governments. U.S. banks are pushing back against President Trump's proposed cap on credit card interest rates, warning it could cut off credit access for millions of Americans. The proposal, lacking detailed implementation plans, may require legislative approval.

Meanwhile, legal tensions continue to mount. White House economic adviser Kevin Hassett commented on the DOJ's investigation into Federal Reserve Chair Jerome Powell, emphasizing respect for institutional independence amid fears of growing political influence. Concurrently, Illinois is suing the Trump administration over federal force usage in Chicago, calling it 'lawless' and 'dangerous'.

Additionally, the U.S. Supreme Court elected not to hear challenges related to the Boy Scouts' $2.46 billion abuse settlement, allowing compensatory efforts to continue. This decision comes amid broader litigation and governance disputes involving Senate figures, the Department of Defense, and international diplomatic skirmishes.

(With inputs from agencies.)