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Author Topic: BREAKING: President Trump is calling for credit card interest rates to be CAPPED at 10% by January 2  (Read 230 times)

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Offline mystery-ak

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BREAKING: President Trump is calling for credit card interest rates to be CAPPED at 10% by January 2
« on: January 09, 2026, 08:59:40 pm »
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Offline Wingnut

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Re: BREAKING: President Trump is calling for credit card interest rates to be CAPPED at 10% by Janua
« Reply #1 on: January 09, 2026, 09:03:00 pm »
He has a point.  CC companies are out of control with their Loan shark type rates.   Not sure if he has the authority to do what he said.l
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Offline Kamaji

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Re: BREAKING: President Trump is calling for credit card interest rates to be CAPPED at 10% by Janua
« Reply #2 on: January 09, 2026, 09:04:00 pm »
Again, more ersatz fascism.
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Offline libertybele

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Re: BREAKING: President Trump is calling for credit card interest rates to be CAPPED at 10% by Janua
« Reply #3 on: January 09, 2026, 09:25:02 pm »
Quote from: Wingnut on January 09, 2026, 09:03:00 pm
He has a point.  CC companies are out of control with their Loan shark type rates.   Not sure if he has the authority to do what he said.l

We'll see what happens .... the ball seems to be in Congress' court as the executive branch cannot make laws.

Legislative Proposals: The President can advocate for specific legislation to be passed by Congress. Trump recently called for a one-year, 10% cap on credit card interest rates in a social media post, but implementing such a cap would require a new law passed by Congress, as he did not specify a mechanism for enforcement.

Congressional Authority: Major new regulations, especially those impacting an industry as a whole, typically require a legislative basis from Congress. Without new legislation, a president's ability to impose a direct cap on interest rates is limited.
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Offline Weird Tolkienish Figure

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Re: BREAKING: President Trump is calling for credit card interest rates to be CAPPED at 10% by Janua
« Reply #4 on: January 09, 2026, 09:37:20 pm »
Yup. Trump is from the government and he's here to help.
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Offline cato potatoe

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Re: BREAKING: President Trump is calling for credit card interest rates to be CAPPED at 10% by Janua
« Reply #5 on: January 09, 2026, 11:36:37 pm »
So to offset the loss in revenue, are they going to raise fees, deny credit, and cut back on rewards?   Or is he counting on a visit from the money fairy?
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Offline DB

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Re: BREAKING: President Trump is calling for credit card interest rates to be CAPPED at 10% by Janua
« Reply #6 on: January 09, 2026, 11:56:24 pm »
Credit card rates are about 23.5% on people with great credit ratings.
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Offline DB

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Re: BREAKING: President Trump is calling for credit card interest rates to be CAPPED at 10% by Janua
« Reply #7 on: January 09, 2026, 11:57:36 pm »
If he does this, a lot of people are going to lose their credit cards.
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Offline jafo2010

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Re: BREAKING: President Trump is calling for credit card interest rates to be CAPPED at 10% by Janua
« Reply #8 on: January 10, 2026, 02:18:07 am »
A whole new block of enemies, oh joy!

While I agree with him that the banks are nothing but loan sharks, the fact remains most of Congress has been bought off by the banks and there is no way they will agree to pass legislation to enhance the life of us little people.  NOT GOING TO HAPPEN!
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Offline cato potatoe

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Re: BREAKING: President Trump is calling for credit card interest rates to be CAPPED at 10% by Janua
« Reply #9 on: January 10, 2026, 08:18:55 am »
Quote from: DB on January 09, 2026, 11:57:36 pm
If he does this, a lot of people are going to lose their credit cards.

This is Trump adopting economic policy from Bernie Sanders, and anti banking demagoguery from Charles Coughlin.  MAGA laps it up like a dog with a bucket of antifreeze. 
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Offline Wingnut

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Re: BREAKING: President Trump is calling for credit card interest rates to be CAPPED at 10% by Janua
« Reply #10 on: January 10, 2026, 08:54:06 am »
No worries.  If Trump is for it the Dem congress lizards will be agenit.
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Offline Weird Tolkienish Figure

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Re: BREAKING: President Trump is calling for credit card interest rates to be CAPPED at 10% by Janua
« Reply #11 on: January 10, 2026, 09:28:13 am »
So all that shit spouted during the tea party movement was basically a load of bullshit?
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