SoFi CEO Anthony Noto Says His Company Is Poised to Win if Trump Caps Credit Card Rates: Why Personal Loans Could Come Out on Top

Group 1 - President Trump's proposal to cap credit card interest rates at 10% has caused significant concern among Wall Street investors, banks, and credit card companies, who believe it will harm markets and reduce financial accessibility [1] - SoFi CEO Anthony Noto supports the interest rate cap, recognizing that it would lead to a decline in card acceptance rates, which aligns with his company's interests as a commercial lender [2][3] - The average credit card interest rate was just under 21% at the end of 2025, indicating a long-term trend of rising rates that has created financial strain for many families [4] Group 2 - Trump's initiative to halve interest rates is seen as a temporary relief for borrowers with significant credit card debt, but it poses disruptive challenges for the broader market [5] - According to Noto, credit card issuers would struggle to maintain profitability under a 10% rate cap, leading to reduced lending to high-risk borrowers and increased fees, which could alienate millions of customers [6] - The proposed cap could result in decreased credit accessibility for families, forcing them to seek alternative cash sources for debt consolidation and essential expenses [7]