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banking industry

Executives of financial institutions testify at a committee hearing on Capitol Hill in December 2023. (Jabin Botsford/The Washington Post)
Jan 20, 2026

What Trump’s proposed 10 percent cap on card rates could mean for you

Trump calls for a 10% credit card interest cap, aiming to ease costs for borrowers, but banks warn it could limit credit access.

A shopper pays for her purchases in a Walmart Neighborhood Market in Chicago, September 21, 2011. (REUTERS/Jim Young/File Photo)
Jan 12, 2026

Banks warn consumers will be hurt by Trump’s 10% cap on credit card interest rates

U.S. banks pushed back on Trump’s proposed 10% credit card interest rate cap, warning it could limit credit access and raise fees for consumers.