Image source, ReutersImage caption, US President Donald TrumpByNick EdserPublished12 January 2026 Shares in banks and credit card firms have fallen after US President Donald Trump called for credit card costs to be capped. On Friday, Trump wrote on Truth Social that interest rates on cards should be limited to 10% for one year from 20 January. He did not specify how such a cap might be introduced or whether such a move would be legally enforceable. Shares in US credit card firms American Express, Visa and Mastercard fell in early trading, while shares in the UK bank Barclays, which has a sizeable US card business, were down 1.9% at close of trading in London. US banking associations say capping rates will make it harder for people to access credit and be "devastating" for millions of families and small businesses. The average interest rate for credit cards in the US is roughly 20%. In his statement on social media,, external Trump called for limiting it to 10%, reviving an idea he had put forward during his 2024 presidential campaign.
Published: January 12, 2026 12:02 pm
Source: BBC — Read original