President Donald Trump's Proposed 10% Credit Card Interest Rate Cap: A Double-Edged Sword

President Donald Trump's proposed 10% cap on credit card interest rates could have unintended consequences. High interest rates are charged to consumers who miss payments, while those who pay on time do not incur interest. Credit card lenders, such as Capital One, charge high rates to fund loans and cover associated costs and risks. Trump's proposal may not be effective in addressing consumer concerns about affordability.