Billionaire Bill Ackman criticises Trump's proposed 10% credit card interest cap

Bill Ackman warned that President Trump's proposal to cap credit card interest at 10% for one year could prompt lenders to cancel cards for many borrowers and push them toward higher-cost alternatives. The plan was announced to begin January 20, 2026, and any nationwide cap would likely require congressional approval.

President Donald Trump announced a proposal to cap credit card interest rates at 10 percent for one year starting January 20, 2026. Billionaire investor Bill Ackman publicly criticised the proposal, arguing it could make it difficult for lenders to price risk and lead to widespread card cancellations that would reduce access to credit. Ackman first posted the comment on X, deleted it, then reposted a longer statement that softened his tone toward the president while reiterating the core concern. Analysts and policy experts noted that implementing a nationwide cap would almost certainly require congressional action and that the legal route for imposing such a restriction is unclear. Key points: - The president announced a proposed one-year, 10% cap on credit card interest to begin January 20, 2026. - Bill Ackman warned the cap could force card issuers to cancel accounts for many consumers and push borrowers to higher-cost alternatives. - Ackman deleted an initial post on X and later reposted a longer statement that reiterated his concerns while praising the goal of lowering rates. - Experts and analysts said a nationwide cap would likely need congressional approval and that the legal pathway is uncertain. Summary: The disagreement highlights differing views on how to reduce borrowing costs while maintaining credit access. The immediate policy impact is debated by investors, analysts and the administration, and the path to any national rate cap is undetermined at this time.