Trump hasn’t capped credit card rates at 10% by Jan. 2026 deadline, despite promises and warnings.

As of early 2026, President Trump has not delivered on his campaign promise to cap credit card interest rates at 10%, despite repeated public calls and a January 20 deadline that passed without action. Senator Elizabeth Warren criticized the administration for failing to act, calling it "all talk and no action," and emphasized that a rate cap could save Americans $900 annually on average and $100 billion nationally. She urged swift legislative action, citing the Consumer Financial Protection Bureau’s weakened state and banks’ continued high profits. With credit card debt reaching $1.21 trillion in 2025, consumer advocates stress the need for reforms to reduce borrowing costs and protect households.