Trump proposes cap on credit card interest at 10% (for a year)

[berg80]

The weakness in Capital One followed Trump’s call for a one-year, 10% cap on credit card rates to take effect on Jan. 20. In his Truth Social post late Friday, the president did not provide any more details on how such a cap would work. While it would require approval from Congress, Trump told reporters Sunday that if banks don’t act by the deadline, they would be “in violation of the law.”

Trump targets credit card rates. What’s at stake for Capital One and other banks

Capital One shares sank Monday after Trump called for a 10% cap on credit card rates, a major profit driver for the company.

www.cnbc.com

The word for that is delusional. As in not in touch with reality.

 

[Fort Fun Indiana]

The weakness in Capital One followed Trump’s call for a one-year, 10% cap on credit card rates to take effect on Jan. 20. In his Truth Social post late Friday, the president did not provide any more details on how such a cap would work. While it would require approval from Congress, Trump told reporters Sunday that if banks don’t act by the deadline, they would be “in violation of the law.”

Trump targets credit card rates. What’s at stake for Capital One and other banks

Capital One shares sank Monday after Trump called for a 10% cap on credit card rates, a major profit driver for the company.

www.cnbc.com

The word for that is delusional. As in not in touch with reality.

He thinks words that pour out of his mouth are royal decrees.

 

[Darlo kittu]

He thinks words that pour out of his mouth are royal decrees.

Much better then the insufferable cackling Trump spared us from

Not to mention the stomach churning word salads Cackles spewed when asked a direct question

 

[Fort Fun Indiana]

Much better then the insufferable cackling Trump spared us from

Sure, if you're a low IQ cult sheep.

 

[Darlo kittu]

Sure, if you're a low IQ cult sheep.

She reminds me if those Purdue chicken ads

 

[Fort Fun Indiana]

She reminds me if those Purdue chicken adsView attachment 1204949

Not rapey or fraudy enough for ya. I know.

 

[candycorn]

As like most keyboard warriors you are an obnoxious hypocrite

Not surprised at all

Wow...I’ve heard snappier come-backs from a bowl of cereal. He destroyed you, boy.

 

[CowboyTed]

She reminds me if those Purdue chicken adsView attachment 1204949

You know the election is over...

Trump won... He got the job.

Any chance he would do his job instead of obsessing over people who don't have his job.

 

[Zincwarrior]

Caps on interest, how socialist of you!

 

[LAUGHatLEFTISTS]

So if he announces that he'll outlaw rain on Saturday and Sunday (which is about the same power he has to regulate credit card interest rates), you'll give him credit for "trying"?

Were you always such a dumbfuck?

It’s leftist that believe they can control the weather.

 

[LAUGHatLEFTISTS]

Congress doesn't have that power either.

Every credit card holder signed agreements on interest rates when they got the card.

The organization that may have been able to do something about the usurious rates has been dismantled by the tRumplings. CFPB.

Now apply your comments to student loan debt.

 

[Crepitus]

Now apply your comments to student loan debt.

Federal loans VS private financing.

Don't get me wrong here, I'd love to see it happen.