Trump Pushes for Credit Card Interest Rate Cap

U.S. President Donald Trump announced a proposal to implement a one-year cap on credit card interest rates at 10%, starting January 20, 2026. This measure aims to prevent financial exploitation of American consumers by credit card companies, as stated in his declaration on Truth Social.

In a bold move to protect American consumers, U.S. President Donald Trump announced his intention to cap credit card interest rates at 10% for one year, starting January 20, 2026. The announcement was made on Truth Social, where Trump emphasized the need to prevent exploitation by credit card companies.

The proposed measure comes as part of efforts to shield the public from what the former president describes as being 'ripped off' by high interest rates. This decision is expected to spark discussions on financial regulations and consumer protection.

While further details were not specified, Trump's statement reflects ongoing concerns about the financial burdens placed on consumers due to high credit card interest rates. Observers anticipate potential policy development as the proposal gains attention.

(With inputs from agencies.)