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Trump Proposes 10% Credit Card Interest Rate Cap, Potential Implications for Financial Markets

Trump Proposes 10% Credit Card Interest Rate Cap, Potential Implications for Financial Markets

Author:

Global Cryptocurrency

Published:

2026-01-10 06:41:02

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Former President Donald TRUMP has called for a one-year cap on credit card interest rates at 10%, effective January 20, 2026. The announcement, made via Truth Social, lacks implementation details and leaves unanswered whether congressional approval is required. Banking trade groups warn such a cap could restrict credit access and drive consumers toward unregulated lenders.

This proposal echoes bipartisan legislative efforts from Senators Bernie Sanders and Josh Hawley, while Elizabeth Warren dismisses it as ineffective without formal legislation. The move could Ripple through financial markets, potentially altering consumer debt dynamics and lending practices.

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