Big changes might be coming to credit card interest rates. President Donald Trump recently suggested a temporary limit on these rates. He wants a 10% cap for one year, starting in January 2026.

This news didn't sit well with banks and financial companies. Their stock prices dropped on Monday. Citi Group saw a nearly 4% decrease in early trading. JPMorgan Chase wasn't far behind, with a 3% loss. Bank of America fell by 2. 45%, while Visa and Mastercard also saw declines of 1. 58% and 2%, respectively.

Other financial services felt the ripple effect. Wells Fargo lost 2%, and PayPal dipped by 0. 26%. The proposed cap was announced on Truth Social. However, details on how this would work remain unclear.

Trump's announcement echoes a promise he made during his 2024 presidential campaign. He aims to protect consumers from high interest rates. But will this cap really help or just cause more problems? Only time will tell.


    # Big Changes Proposed for Credit Card Interest Rates

    **President Donald Trump** has suggested a temporary cap on credit card interest rates. The proposal includes a **10% cap** for one year, starting in **January 2026**.

    ## Market Reaction

    The news has caused a stir in the financial sector, with stock prices dropping on Monday:

    - **Citi Group**: Nearly **4%** decrease in early trading
    - **JPMorgan Chase**: **3%** loss
    - **Bank of America**: **2.45%** decline
    - **Visa**: **1.58%** drop
    - **Mastercard**: **2%** decrease
    - **Wells Fargo**: **2%** loss
    - **PayPal**: **0.26%** dip

    ## Uncertainty and Details

    The proposed cap was announced on **Truth Social**, but **details on implementation remain unclear**.

    ## Campaign Promise

    This announcement echoes a promise made during Trump's **2024 presidential campaign**, aiming to **protect consumers from high interest rates**. However, the potential impact of this cap remains to be seen.

    

Credit Card Interest Rate Cap: What's the Deal?

Market Reaction

Uncertainty and Details

Campaign Promise

Actions