Trump announces plan to cap credit card interest rates at 10% for one year
Washington: US President Donald Trump on Friday announced plans to cap credit card interest rates at 10% for a period of one year, saying the move is aimed at easing affordability concerns for American consumers, The Times of India reported.
In a post on his Truth Social platform, Trump said credit card companies would no longer be allowed to charge interest rates of 20% to 30% or higher. He also criticised the previous Joe Biden administration for not checking high interest rates in recent years.
"Please be informed that we will no longer let the American public be “ripped off” by Credit Card Companies that are charging Interest Rates of 20 to 30%, and even more, which festered unimpeded during the Sleepy Joe Biden Administration. AFFORDABILITY!"
According to Trump, the proposed cap would come into effect from January 20, 2026, and remain in place for one year. The date marks the first anniversary of his return to the White House as US president.
"Effective January 20, 2026, I, as President of the United States, am calling for a one-year cap on Credit Card Interest Rates of 10%," he said. He further wrote, "coincidentally, the January 20th date will coincide with the one-year anniversary of the historic and very successful Trump Administration."
The announcement comes as the Trump administration pushes measures aimed at easing financial pressure on American consumers. Earlier, the US government said it would purchase nearly $200 billion worth of mortgage-backed securities, a move officials said was intended to help bring down mortgage rates amid ongoing housing affordability concerns.
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Gurugram CA held for slitting pregnant wife's throat with scissors
Jhajjar (PTI): A chartered accountant has been arrested for allegedly killing his pregnant wife by slitting her throat with a pair of scissors and trying to pass it off as a robbery attempt, police said on Wednesday.
According to police, Anshul Dhawan (31) got married to Mehak (27) in September last year. Both worked in Gurugram.
Police received a call on Sunday night reporting that some unidentified people tried to rob Anshul, took his car and kidnapped his wife, SHO Badli, Inspector Suresh said.
When police reached the spot, they found the woman's body near a dry canal with injury marks on her neck, he said.
Suspecting inconsistencies in Anshul's version of events, police took him into custody for interrogation. He confessed that he had killed Mehak with a pair of scissors, wearing gloves, over suspicions about her character, SHO said.
"During his questioning, it came to light that he had pre-planned the murder. His wife worked in a private bank in Gurugram. He had doubts that she talked to her friends, and he did not like it," SHO added. Following the confession, Anshul was arrested on Monday.
Further investigation into the matter is underway, police said.
Mehak's sister, Shruti, told the reporters that the family had doubts that Anshul was involved in the murder. She said, "We want justice; the killer should be hanged. He did not even think that his wife was two months pregnant."
She said on February 15, Anshul came to their house and stayed only for ten minutes and left with Mehal for Gurugram.
Shruti alleged that Anshul had pre-planned the murder.
