"They've really abused the public."
"I'm not going to let it happen."
"Sanders criticized the president on X for not following through on a campaign promise to set that limit and called that "unacceptable.""
"Begging credit card companies to play nice is a joke."
President Trump proposed instituting a one-year, 10% cap on credit card interest rates and said companies would violate the law if they did not comply. Credit card interest rates rose sharply beginning in 2023, with an average rate of 22.3% as of November 2025, up from 13.9% a decade earlier. Rising delinquencies and higher Federal Reserve benchmark rates contributed to the increase, even after three rate cuts last year left benchmarks at 3.5–3.75%. Lawmakers proposed bipartisan and House measures for a 10% cap previously, but those bills have not advanced. Trump has not specified whether he would seek Congress’s approval or use another path to implement the cap.
Read at www.npr.org
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