Trump’s Credit Card Rate Cap Deadline Exposes Washington’s Empty Threats and Industry Confusion

As the January 20 deadline set by President Donald Trump approaches for capping credit card interest rates at 10%, both financial institutions and consumers are left asking: What exactly will happen if the industry refuses to comply? The answer remains frustratingly elusive. Despite the bold rhetoric from the White House demanding lower credit card rates, no clear enforcement mechanism or legal pathway has been presented. Press Secretary Karoline Leavitt admitted there is no explicit consequence outlined yet but emphasized the president's “expectation” — or rather, demand — that credit card companies fall in line. How Can Washington Expect Compliance Without...