Trump Issues Ultimatum: Lower Credit Card Rates To 10% By Jan. 20 Or Face 'Severe' Consequences For 'Violation Of The Law' - SPDR S&P 500 (ARCA:SPY)

President Donald Trump has escalated his war on high interest rates, warning credit card companies that failure to cap rates at 10% by Jan. 20 will be treated as a “violation of the law” and met with “severe” repercussions.Escalation To Legal ThreatsIn a forceful new statement delivered on Jan. 12, 2026, President Trump shifted from political pressure to explicit legal threats against the banking sector.Moving beyond his initial call for a voluntary cap in a Truth Social post, Trump declared that maintainin ...