Treasury's Bessent says he backs Trump's call for cap on credit card interest rates
ReutersFeb 5, 2026 3:50 PM
WASHINGTON, Feb 5 (Reuters) - U.S. Treasury Secretary Scott Bessent on Thursday said he supports President Donald Trump's call for capping credit card interest rates at 10% for one year.
"I wholeheartedly support President Trump's policy," Bessent told the Senate Banking Committee, when asked about the call.
Trump last month called for the cap starting on January 20 but he did not provide details on how his plan will come to fruition or how he planned to make companies comply.
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