US President Donald Trump has called for a one-year cap on credit card interest rates at 10 starting on January 20 but did not provide details on how his plan will come to fruition or how he planned to make companies comply.
Trump also made the pledge during the campaign for the 2024 election he won, but analysts dismissed it at the time, saying such a step required congressional approval.
Legislators from the Democratic and Republican parties have raised concern about high rates and have called for those to be addressed. Republicans currently hold a narrow majority in the Senate and the House of Representatives.
