Bank stocks brace for impact after Trump calls for 10% cap on credit-card interest rates
President Donald Trump on Friday called for credit-card companies to cap the interest rates they charge customers, as the president leans harder into addressing consumers’ affordability concerns. “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%," he said in a Truth Social post. It was unclear how the move would be enacted, but credit-card companies may already be bracing for a negative stock reaction if a reduction in rate ...