Trump's 10% credit-card cap deadline tests banks on compliance

With the Jan. 20 deadline arriving, banks largely kept credit-card APRs at current levels and pushed back on missing policy details for a 10% cap. There is no federal law enforcing such a cap, and enforcement would likely require Congress or a clear executive action. Experts warn lenders could curb access for many borrowers, especially those with weaker credit, even as some issuers promote 0% intro APR periods and fintechs like Bilt roll out cards at the cap. Proponents say the cap could save consumers about $100 billion annually if enacted, but major policy and enforcement questions remain unresolved.