Washington, Jan. 10 -- President Donald Trump on Friday called for a one-year cap on credit card interest rates at 10 percent, starting January 20, saying Americans are being "ripped off" by credit card companies.
The date marks the one-year anniversary of his return to the White House.
Trump did not clarify whether the cap would be voluntary for lenders or enforced through government mechanisms, citing only "AFFORDABILITY!" as the reason.
"We will no longer let the American Public be "ripped off" by Credit Card Companies that are charging Interest Rates of 20 to 30%, and even more, which festered unimpeded during the Sleepy Joe Biden Administration. AFFORDABILITY! Effective January 20, 2026, I, as President of the United States, am call...