Finance
Trump Looks to Congress to Cap Credit Card Rates at 10%
A commuter taps a credit card on a One Metro New York device at a subway station in New York.
Photographer: Michael Nagle/BloombergUS President Donald Trump said he would ask Congress to implement his proposal to cap credit card interest rates at 10% for one year, a policy that’s drawn pushback from some of the biggest banks and card issuers.
“I’m asking Congress to cap credit card interest rates at 10% for one year and this will help millions of Americans save for a home,” Trump said Wednesday in a speech at the World Economic Forum in Davos, Switzerland.