Bernie Sanders of Vermont and Sen. Josh Hawley, a Republican from Missouri, introduced legislation to cap credit card interest rates at 10%. Credit card interest rates refer to the fee a card issuer charges if a consumer doesn’t pay off their credit card balance in full by a certain date.

Mo., introduced a new bill on Tuesday to cap credit card interest rates at 10%, which Trump had proposed doing temporarily during his 2024 presidential campaign. "During the campaign, President Trump pledged to cap credit card interest rates at ten percent,