Trump Looks to Congress to Cap Credit Card Rates at 10% (2)

US President Donald Trump said he would ask Congress to implement his proposal to cap credit card interest rates at 10% for one year, a policy that’s drawn pushback from some of the biggest banks and card issuers.

“I’m asking Congress to cap credit card interest rates at 10% for one year and this will help millions of Americans save for a home,” Trump said Wednesday in a speech at the World Economic Forum in Davos, Switzerland.

Earlier this month, Trump took aim at credit card interest rates, posting on social media that he would call for a one-year cap. ...