Trump announces one-year 10% cap on credit card interest rates

idk why trump would wanna do this lol he thinks he can just cap interest rates at 10% like that? that sounds like a total disaster to me 🤦‍♂️ credit card companies are already making enough money, why fix what ain't broke right? and senator sanders is right, a one-year cap is super short term thinking. it's not gonna solve the problem and might even make things worse for people who need affordable credit. i mean, where's the plan here? 🤔
 
I THINK ITS CRAZY THAT TRUMP IS TRYING TO CONTROL THE CREDIT CARD INDUSTRY LIKE THAT!!! 🤑👀 I GET WHY HE WANTS TO HELP PEOPLE FROM BEING RIPPED OFF, BUT AT THE SAME TIME, I DON'T WANT ANYONE ELSE TO STEP IN AND MAKE THINGS WORSE FOR US!!! 😬 WE NEED TO FIND A WAY TO BALANCE HELPING PEOPLE WITH NOT DISRUPTING THE ENTIRE ECONOMY!!! 💸
 
🤔 I gotta say, 10% interest rate cap sounds pretty cool at first, but then I start thinking about all the implications... 🤑 It's like, sure, credit card companies don't wanna make money from all those low-interest loans, but what about people who need access to credit for their businesses or homes? 🏠📈 They're gonna get stuck with higher rates or have trouble getting credit at all. And then there's the whole thing about credit card companies canceling consumer cards... 😬 That could lead to some major financial headaches.

I think what Sanders said is pretty valid, though - a one-year cap isn't enough. We need real change here, not just some short-term fix. 💪 And can we talk about how this whole thing is gonna play out with the Consumer Financial Protection Bureau? 🤷‍♀️ It's all so... uncertain.

I do think it's good that Hawley is on board with this idea, though. Maybe this is a step in the right direction after all? 🚀 Only time will tell, I guess! 💬
 
🤔 I don't trust this plan at all... what if they just pass the buck to some private lenders? I mean, who's gonna regulate them? It's not like Congress is gonna come together on anything these days 🙄. And 10% is still pretty steep, even with a cap. What about people who need more than that kind of money? This whole thing feels like a band-aid solution to me...
 
I don't think a 10% cap on credit card interest rates sounds like a bad idea 😐 It could really help people who are struggling to make ends meet and can't afford those crazy high fees 💸 What I'm worried about is if it's gonna lead to some shady lenders popping up in the cracks 🤔 And what about all the people who don't have credit cards? Are they gonna be left behind 🤑 It's a good start, but we need more solid solutions from Congress 👀
 
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