New access to 401(k) accounts joins list of consumer finance ideas Trump has pitched. Here’s the status of his proposals

Housing Market Proposals - An executive order issued by Trump on January 20, 2026, aims to limit large institutional investors from purchasing single-family homes to increase availability for families, with definitions to be provided by the Treasury secretary by February 19 [1] - The proposal for a 50-year mortgage aims to improve access and affordability in the housing market, but it has been criticized for potentially increasing overall interest costs and delaying equity building for homeowners [6][8] - Trump ordered Fannie Mae and Freddie Mac to purchase $200 billion in mortgage-backed securities to lower mortgage rates, which initially resulted in a drop in rates but is not expected to have a long-term effect [9][12] - A proposal to allow homebuyers to access 401(k) funds for down payments is currently stalled, with mixed support from the administration [13][14] Economic Affordability Proposals - Trump has proposed a one-year cap on credit card APRs at 10% to protect consumers, but this proposal is stalled in Congress [19][20] - A tax deduction for auto loan interest allows up to $10,000 in deductions for qualifying vehicles purchased between 2025 and 2028, and is currently in effect [22][23] - The administration's proposal to keep unpaid medical debt on credit reports is in effect, following a ruling that prevents states from removing such debts [25][26] - A proposal to lower credit card processing fees is stalled, despite renewed debate following Trump's support [27] Federal Reserve and Interest Rates - Trump has been pressuring Federal Reserve Chair Jerome Powell to lower interest rates, with ongoing investigations into Powell's congressional testimony [28][29] - The administration's interest rate forecast suggests three rate cuts totaling 0.75 percentage points in 2026, but there are concerns about the potential negative impact on inflation and economic stability [30] Student Loan Proposals - The Trump administration is overhauling the Public Service Loan Forgiveness program, narrowing eligibility, but this proposal is currently stalled due to legal challenges [33][34] - Proposals to shift federal student loan servicing to other agencies or private lenders are also stalled, with the current portfolio remaining under the Department of Education [35]