Trump calls for one year cap on credit card interest rates at 10%

Core Viewpoint - U.S. President Donald Trump proposed a one-year cap on credit card interest rates at 10%, effective from January 20, but did not specify how compliance would be enforced [1] Group 1 - The proposed interest rate cap is aimed at providing relief to consumers burdened by high credit card debt [1] - The implementation date for the proposed cap is set for January 20, indicating a timeline for potential regulatory changes [1] - The lack of details on enforcement raises questions about the feasibility of the proposal and its impact on credit card companies [1]