Trump wants a credit card interest rate cap. Experts on what it would do

It didn’t take long for the fur to fly over President Donald Trump’s proposal for a year-long, 10% credit card interest rate cap. His social media post on Friday, which noted a current card environment where rates stand between 20% and 30%, called for the cap to kick in on Jan. 20. In the short term, industry experts say the proposal, if it were ever enacted, would be a net positive for consumers. However, some within the industry point to potential downsides. “A blanket 10% cap on credit card interest ...