economy
January 16, 2026
Hassett pivots to possible 'Trump cards' amid credit card interest rate battle with banks
Trump called for banks to cap credit card interest rates at 10%, an idea that has been roundly rejected by industry executives and their lobbyists this week.
TL;DR
- Kevin Hassett suggested banks voluntarily provide credit cards to underserved Americans.
- This proposal comes after President Trump's call for a 10% credit card interest rate cap was rejected by the industry.
- The 'Trump cards' would target individuals with stable income but limited credit access.
- Hassett believes this initiative may not require legislation.
- Bankers have reportedly not yet discussed the 'Trump card' concept with the administration.
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