Trump Caps Credit Card Interest at 10% for One Year Starting 2026

• US President Donald Trump announced a 10% cap on credit card interest rates, effective January 20, 2026, for one year.
• Trump had promised this cap during his 2024 election campaign, which he won.
• The announcement did not detail implementation or enforcement, and analysts previously noted such a decision might require congressional approval.
• Trump stated on Truth Social that the cap aims to prevent credit card companies from defrauding the American public.
• Previous attempts by lawmakers like Bernie Sanders and Josh Hawley to cap interest rates have not yet become law; billionaire investor Bill Ackman criticized Trump's decision.

Why It Matters: Donald Trump mandates a 10% credit card interest rate cap for one year starting January 2026.