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Congress Considers 10% Credit-Card Rate Cap Amid Concerns

11/26/2025

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Summary

Story summary

Capping credit-card interest rates at 10 percent is presented as consumer protection.
The approach can lead to shortages and increased hidden costs, harming those it aims to help.
A bipartisan group in Congress, including Sen. Bernie Sanders and Sen. Josh Hawley, supports this measure.
Critics, including Steve Moore, a former economic adviser to U.S. President Donald Trump, argue rates reflect costs and risks.

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Story summary

Capping credit-card interest rates at 10 percent is presented as consumer protection.
The approach can lead to shortages and increased hidden costs, harming those it aims to help.
A bipartisan group in Congress, including Sen. Bernie Sanders and Sen. Josh Hawley, supports this measure.
Critics, including Steve Moore, a former economic adviser to U.S. President Donald Trump, argue rates reflect costs and risks.