White House pressure could force banks to cap credit-card rates at 10%

Trump has pressured the credit-card industry to cap interest rates at 10% with a Jan. 20 deadline, but there are unclear consequences and little legislative momentum, so the outcome may hinge on political pressure rather than a law. Banks are pushing back or offering compromises, while fintechs test lower rates; if the cap is enacted, consumers could save on interest, but lenders warn it could limit lending and perks.