Donald Trump has revived a campaign pledge for a one-year, 10 percent cap on credit card interest rates, a move he suggests could save Americans tens of billions of dollars. The proposal, however, immediately drew opposition from the financial industry.
It is unclear if Trump plans to implement the cap via executive action or legislation. A Republican senator, however, confirmed discussions with Trump and vowed to work on a bill with his "full support". Trump had previously hoped for the cap to be in place by January 20, one year after he took office.
