Jan 16 (Reuters) – The White House is weighing an executive action to enact U.S. President Donald Trump’s call for a cap on credit card interest rates, Bloomberg News reported on Friday, citing people familiar with the matter. The plan, which is still being crafted as administration officials discuss the terms with industry and Congress, […]
Politics
US weighs executive action to cap credit card rates, Bloomberg News reports
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Jan 16 (Reuters) – The White House is weighing an executive action to enact U.S. President Donald Trump’s call for a cap on credit card interest rates, Bloomberg News reported on Friday, citing people familiar with the matter.
The plan, which is still being crafted as administration officials discuss the terms with industry and Congress, is designed to lower interest rates on credit cards as part of a broader push to reduce costs for Americans, the report said.
(Reporting by Fabiola Arámburo in Mexico City; Editing by Chris Reese)