Donald Trump wants to cap credit card interest rates at 10%. Could that work?

Americans have more than $1 trillion in credit card debt. Could putting a ceiling on credit card interest rates help?

With the 2024 presidential race getting close to the home stretch, both candidates are throwing out ideas about how to handle the economy. Kamala Harris is expected to roll out new economic policy proposals Wednesday. And former president Donald Trump, last week, pledged he would instate a temporary 10% cap on credit card interest rates if reelected.