It’s unclear if congressional approval is needed.
WASHINGTON — President Donald Trump called for a one-year, 10% cap on credit card interest rates in a Truth Social post Friday evening.
He said he wanted the cap to take effect Jan. 20, exactly one year after he was sworn into office for the second time. The post didn’t explain how the cap might be implemented, whether credit card companies would participate voluntarily, or if and how it would be enforced by the government.
“We will no longer let the American Public be ‘ripped off’ by Credit Card Companies that are charging Interest Rates of 20 to
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