Trump Calls for Credit Card Rate Cap at 10%

The US President has suggested implementing a one-year cap on credit card interest rates at 10%.

This move aims to protect consumers from high-interest rates and promote financial behaviour.

Experts analyse the potential impact on the UK finance sector and consumer behaviour.

Trump’s proposal has sparked debate among financial experts and regulators.

The UK’s Financial Conduct Authority has implemented similar measures to protect consumers.

Consumer groups have welcomed the proposal, citing the need for affordable credit options.

The credit card industry has expressed concerns about the potential impact on lending practices.

As the UK navigates Brexit, the proposal has raised questions about the future of financial regulation.

Financial experts will be watching closely to see how the proposal unfolds and its potential effects on the UK economy.