From Quartz.

Donald Trump proposed a one-year 10% cap on credit card interest rates, drawing scrutiny over consumer relief and credit access. A Vanderbilt University study estimates a 10% credit card interest cap could save Americans about $100 billion. Industry analysts, including Brian Riley, caution the Trump credit card cap could reduce lending to below-prime borrowers if credit card interest rates become unprofitable for issuers.
Brian Shearer said high rates strain consumers and argued bipartisan-backed caps could return billions without harming access or rewards. Vervent CEO David Johnson warned of tighter credit and shifts to less regulated lending. Rewards could fall by $27 billion for FICO 760 and below, with larger interest savings. Announced on social media with a Jan. 20 target.

—
Subscribe to the Quartz Daily Brief newsletter, the most interesting news from the global economy: https://quartz.short.gy/newsletters-yt

Become a Quartz member to get unlimited access to our journalism: https://quartz.short.gy/newsletters-yt

Quartz is a guide to the new economy for people in business who are excited by change. We cover business, economics, markets, finance, technology, science, design, and fashion. Visit us at https://qz.com/ to read more, and follow us on X at https://x.com/qz.