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12.01.26 - 14:39
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Credit Card Stocks Tumble As Trump Floats One-Year 10% Rate Cap (ZeroHedge)
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Credit Card Stocks Tumble As Trump Floats One-Year 10% Rate Cap
European and US credit card companies are sliding in premarket trading after President Trump said on Truth Social late Friday (read report) that a 10% cap on credit card interest rates is very much on the table as part of his push to improve affordability.
In a Truth Social post, Trump said Americans are being "ripped off" by credit card companies that charge interest rates of 20 to 30% and vowed that his administration will put an end to it.
"AFFORDABILITY! Effective January 20, 2026, I, as President of the United States, am calling for a one-year cap on Credit Card Interest Rates of 10%," the president stated.
The cap's proposed start date coincides with the anniversary of Trump's second-term inauguration and, if implemented, would fulfill his 2024 election campaign pledge.
Two months later... https://t.co/POf3Y4jlrq pic.twitter.com/D4BlY4PD1i
— zerohedge (@zerohedge) January 10, 2026
American Express,...
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