Trump proposes one-year 10% cap on credit card interest

President Trump posted on Truth Social that he would impose a one-year 10% cap on credit card interest starting January 20, 2026; the White House did not immediately respond to a request for comment.

President Donald Trump wrote on Truth Social that he would impose a 10% cap on credit card interest for one year, effective January 20, 2026. He said credit card companies have been charging interest rates in the 20%–30% range and criticized the prior administration. The White House did not immediately respond to a request for comment from Business Insider. The announcement was among several recent proposals from Trump this week related to housing and corporate rules. Key points: - President Trump announced on Truth Social a proposed one-year 10% cap on credit card interest, to begin January 20, 2026. - The White House did not immediately respond to a request for comment from Business Insider. - The post followed other announcements this week, including saying he would instruct representatives to buy $200 billion in mortgage bonds, a stated ban on large institutional investors buying single-family homes, and an executive order to limit defense contractors' corporate spending. Summary: The announcement stated a start date but did not include detailed implementation steps or a formal regulatory pathway. Undetermined at this time.