fromBusiness Insider
4 hours agoHow business leaders are responding to Trump's plan to cap credit card interest rates, from JPMorgan to SoFi
In a post on Truth Social, Trump said on Friday he would call for a one-year cap of 10% on credit card interest rates, arguing that consumers are being "ripped off" by rates that he said can be as high as 20% or 30%. Congress, not the president, has the power to implement such a cap. Similar proposals have previously stalled on Capitol Hill.
US politics
