As part of a series of efforts to make life more affordable, President Donald Trump is taking steps to help Americans struggling with credit-card debt.
After demanding on social media that credit-card lenders cap interest rates at 10% for a year, the president took his appeal to Congress on January 21. He urged lawmakers to pass legislation establishing this 10% interest rate ceiling as law.
Currently, average credit-card interest rates hover around 20%, making it difficult for many consumers to manage their debt. This proposed cap aims to provide relief and make debt repayment more manageable for millions of Americans.
https://www.bloomberg.com/news/articles/2026-01-24/what-a-credit-card-interest-rate-cap-would-mean-for-consumers