Senator Elizabeth Warren, Ranking Member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, issued a statement responding to President Trump’s call for a one-year cap on credit card interest rates, arguing that urging credit card companies to voluntarily reduce rates is insufficient and reiterating she would work to pass legislation to cap rates. Warren said she made that offer a year earlier if Trump was serious, but claimed he has not pursued it and has instead tried to shut down the Consumer Financial Protection Bureau. She also questioned Trump’s stated focus on affordability and described the call as fraudulent.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-01-09
U.S. Senate Committee on Banking, Housing and Urban Affairs Ranking Member Warren criticizes President Trump's call for a one-year cap on credit card interest rates
Senator Elizabeth Warren, Ranking Member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, criticized President Trump's proposal for a voluntary one-year cap on credit card interest rates, arguing for legislative action instead and accusing Trump of undermining the Consumer Financial Protection Bureau.