Trump called for a 10% cap on card rates by Jan. 20. What happened?

President Donald Trump called for credit card companies to cap interest rates at 10%, roughly half the industry average, effective Jan. 20. That date has arrived, and credit card rates have hardly budged. What happened? In a Jan. 9 post on Truth Social, Trump said that "we will no longer let the American Public be 'ripped off' by Credit Card Companies that are charging Interest Rates of 20 to 30%" or more. He called for a one-year, 10% cap on card rates effective Jan. 20, the one-year anniversary of his ...