Trump demands credit card companies cap interest rates at 10%, but you may not want to wait on Washington to get relief

So, how bad is the credit crunch in the U.S., and would a 10% cap on interest rates help or harm American consumers?Unsurprisingly, financial institutions also have no interest, so to speak, in a 10% cap (5), with a group of major banking associations and organizations releasing a joint statement claiming the move would “reduce credit availability and be devastating for millions of American families and small businesses,” driving many “toward less regulated, more costly alternatives.”But it’s unclear how mu ...