Trump calls for 10% cap on credit card interest for one year

President Trump said on social media: “Please be informed 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%, and even more, which festered unimpeded during the Sleepy Joe Biden Administration. AFFORDABILITY! Effective January 20, 2026, I, as President of the United States, am calling for a one year cap on Credit Card Interest Rates of 10%. Coincidentally, the January 20th date will coincide with the one year anniversary of the historic and very successful Trump Administration.” Publicly traded companies in the credit card space include American Express (AXP), Capital One (COF), MasterCard (MA), Synchrony (SYF) and Visa (V).