Trump Urges Credit Card Interest Rate Cap

President Donald Trump has called on credit card companies to cap interest rates, encouraging them to give people a financial break. He mentioned receiving calls from friends in the industry, urging them to balance profit with public relief amidst economic challenges.

In a strong appeal for financial reform, U.S. President Donald Trump on Wednesday called on credit card companies to consider capping interest rates. Trump emphasized his personal connection with some industry leaders, encouraging them to provide financial relief to consumers.

The President highlighted that many people in the credit card industry are acquaintances whom he respects, and suggested they find ways to share their substantial profits with the greater public. Trump's comments were made during an interview on CNBC.

The President's proposal comes amidst broader economic discussions, urging firms to balance profitability with consumer support, reflecting a shift towards more consumer-friendly financial policies.

(With inputs from agencies.)