Original Source Material
The president said he’d like a 10% cap on credit card interest rates for a year, starting this month, but banks said it would be “devastating” for consumers.
Trump proposes card rate cap; banks eschew idea
Summary
- President Trump proposes a 10% cap on credit card interest rates for a year.
- Banks oppose the idea, stating it would be 'devastating' for consumers.
Why It Matters for Texas Credit Unions
The proposal could affect Texas credit unions and their operations regarding credit card interest rates.