The Brief

Research from Vanderbilt University implies that President Donald Trump’s credit card rate caps will save consumers billions in interest costs.

Trump first introduced his plan during the 2024 presidential campaign, and other politicians have proposed similar bills.

Americans are carrying more than $1 trillion in credit card debt based on data from the Federal Reserve.

A paper published by Vanderbilt University finds that Americans would save about $100 billion annually in interest costs if President Donald Trump’s 2024 campaign pledge to cap credit card interest rates at 10% were instituted.

Research from the school’s paper found that banks and credit card organizations would be able to oppose, and even still be profitable, if there were to be a national cap on inter

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