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Trump proposes one-year, 10% cap on credit card interest rates amid bank opposition

Originally Published 18 hours ago — by abcnews.go.com

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Source: abcnews.go.com

President Trump advocates for a one-year, 10% cap on credit card interest rates, aiming to save Americans billions, but faces opposition from banks and industry groups who argue it could harm high-risk borrowers and reduce credit availability. Legislation supporting the cap is being considered, with some experts suggesting it could significantly lower interest costs for consumers.

Trump's Greenland ambitions spark international concern and debate

Originally Published 19 hours ago — by PBS

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Source: PBS

Greenland's party leaders have rejected U.S. President Trump's repeated calls for the U.S. to take control of Greenland, emphasizing that the island's future should be decided by its own people. The leaders condemned Trump's remarks and reiterated Greenland's desire for independence, while discussions continue among Greenland, Denmark, and the U.S. amid concerns about NATO and regional security.

Nobel Peace Prize Cannot Be Transferred to Trump, Norwegian Institute Confirms

Originally Published 21 hours ago — by Reuters

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Source: Reuters

The Norwegian Nobel Institute confirmed that the Nobel Peace Prize cannot be transferred, shared, or revoked, following Venezuelan opposition leader María Corina Machado's suggestion she might give her 2025 award to U.S. President Donald Trump, emphasizing the finality of the award as per Nobel Foundation statutes.

Trump proposes one-year 10% cap on credit card interest rates amid industry criticism

Originally Published 1 day ago — by The Guardian

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Source: The Guardian

Donald Trump announced a one-year plan to cap credit card interest rates at 10%, sparking mixed reactions from lawmakers, financial institutions, and critics, with concerns about implementation and potential impacts on credit availability.

Trump's Unpredictable Impact on Global Finance and Wall Street

Originally Published 1 day ago — by Bloomberg.com

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Source: Bloomberg.com

The article discusses how President Trump is increasingly intervening in private sector decisions, pressuring companies on issues like defense spending, oil investments in Venezuela, and housing policies, which has caused concern among CEOs and altered traditional Republican business policies. Despite pushback from some businesses and lawmakers, Trump continues to seek influence over corporate actions, blending deregulation with populist interventions as he seeks political gains ahead of midterm elections.

Trump Proposes One-Year 10% Cap on Credit Card Rates

Originally Published 1 day ago — by Bloomberg.com

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Source: Bloomberg.com

President Trump proposed a one-year cap of 10% on credit card interest rates, targeting a highly profitable banking sector, but industry groups warn this could significantly reduce credit availability and harm consumers, especially riskier borrowers. The move has sparked debate over the impact on banks' profitability and consumer access to credit, with potential adjustments including higher fees and reduced rewards. The proposal faces resistance from banking trade groups and lawmakers, amid ongoing discussions about regulating interest rates.

Trump Proposes One-Year 10% Cap on Credit Card Interest Rates

Originally Published 1 day ago — by Business Insider

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Source: Business Insider

Bill Ackman criticized President Trump's proposal for a one-year 10% cap on credit card interest rates, warning it could lead to widespread credit card cancellations and push consumers toward higher-cost loans. Ackman acknowledged the goal of reducing rates is important but argued that making the market more competitive and fostering new entrants would be a better approach. The proposal would require congressional approval, and its implementation remains uncertain.