Trump Promises 10% Credit Cap Starting Day He’s Not Actually President
KEY POINTS
- •Donald Trump announced on January 12, 2026, a proposal to cap credit card interest rates at 10% starting January 20, 2026.
- •This cap would last for one year but cannot be enacted without Congressional approval, making it mostly an aspirational tweet effort.
- •The announcement followed criticisms from Bernie Sanders highlighting Trump’s contradictory history of deregulating banks and cutting consumer protections.
On Friday, Donald Trump took to Truth Social to announce a breathtaking plan to cap credit card interest at 10% for one year—starting January 20, 2026, exactly when he’s not president anymore, but way to commit to a timeline! He claimed rates of 20 to 30% 'festered' under Biden’s watch, despite slashing Consumer Financial Protection Bureau funding early in his own second term—because deregulating is the new ’protecting consumers.' The move sparked priceless jabs from Bernie Sanders, who reminded us JPMorgan’s Jamie Dimon pulled in $770 million last year while Trump practices fiscal magic that requires Congress to actually do stuff.
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Trump’s big idea to fix credit card outrage is to announce a 10% cap… starting when he doesn’t even have power. That legal wizardry’s got Congress shaking, or maybe just laughing.
Only Trump could sprinkle a dash of presidential fairy dust on policy that kicks in the day he’s out of office. If laws were magic spells, this one went backwards.
Trump’s interest-rate cap launches in 2026, proving time travel’s real but US lawmaking isn’t—he can’t just snap his fingers and poof, problem solved.
Source: Businessinsider | Published: 1/10/2026 | Author: Katherine Tangalakis-Lippert,Kelsey Vlamis
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