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2026-01-17 21:33:55
According to sources familiar with the matter, the White House is reportedly considering executive action to cap credit card interest rates as the deadline set by President Trump approaches. The White House is weighing executive action to implement President Donald Trump's call for a cap on credit card interest rates while simultaneously advancing other measures aimed at easing affordability pressures on the United States. The plan is still under development, with government officials communicating with industry and Congress on specific terms aimed at lowering credit card interest rates as part of efforts to reduce the cost of living for Americans. Trump's action may also call on regulators to relax certain liquidity standards to make the plan more attractive to banks. Because the discussions are being conducted behind closed doors, the sources requested anonymity. Consultations on these proposals are ongoing, and no final decisions have been made. The White House did not immediately respond to requests for comment. Late last week, Trump called for a one-year 10% cap on credit card interest rates, setting January 20 as the deadline for action.
