Trump Says Credit Card Firms Violate Law If Rates Not Capped

Group 1 - President Trump demands credit-card lenders to cap interest rates at 10% for one year, threatening legal action if they do not comply by January 20 [1][2] - Major lenders such as JPMorgan Chase, Capital One, and Citigroup are directly affected by this demand, with Barclays shares dropping 4.2% in response [3] - Current credit card interest rates are above 20%, prompting bipartisan legislative interest, though industry resistance is strong due to concerns over profitability and credit access [4] Group 2 - Industry groups, including the Bank Policy Institute and Consumer Bankers Association, express support for affordable credit but warn that a 10% cap could reduce credit availability and harm consumers [5][6]