USA: Banks Warn Trump’s 10% Credit Card Rate Cap Could Cut Off Millions | WION
Edited By WION Video Desk
Published: Jan 13, 2026, 12:06 IST | Updated: Jan 13, 2026, 12:06 IST
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US banks and financial groups are pushing back against President Donald Trump’s proposal to cap credit card interest rates at 10 percent, warning it could force millions of households and small businesses out of the credit market. Industry data suggests most card accounts could be closed or restricted under the plan, even as consumer groups argue it could save borrowers billions in interest.
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