{"id":2539681,"date":"2026-01-16T18:33:56","date_gmt":"2026-01-16T23:33:56","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hassett-floats-bank-issued-trump-cards-with-10-interest-cap-3\/"},"modified":"2026-01-16T18:35:53","modified_gmt":"2026-01-16T23:35:53","slug":"hassett-floats-bank-issued-trump-cards-with-10-interest-cap-3","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hassett-floats-bank-issued-trump-cards-with-10-interest-cap-3\/","title":{"rendered":"Hassett floats bank-issued &#8216;Trump cards&#8217; with 10% interest cap"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fhassett-floats-bank-issued-trump-cards-with-10-interest-cap-3%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2539681&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Kevin Hassett said the Trump governance is discussing with major banks a voluntary program for bank-issued &#8220;Trump cards&#8221; that would <a href=\"https:\/\/amzn.to\/3YuVZYV\" >cap credit card interest rates<\/a> at 10% for qualified customers. The idea follows President Trump&#8217;s public call for a one-year 10% cap, but because no law mandates such a limit, the administration is seeking voluntary participation by banks rather than immediate regulation. Hassett described the cards as aimed at people with stable incomes who are underserved by customary credit markets. Critics,including the American Bankers Association,warn a mandatory cap could make credit less available or more expensive overall. The proposal is part of a broader affordability agenda from the administration-including proposals to let savers tap 401(k) and 529 accounts for home purchases, directing Fannie Mae and Freddie Mac to buy mortgage-backed securities, and a plan to sharply reduce prescription drug prices.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Hassett floats bank-issued &lsquo;Trump cards&rsquo; with 10% interest rate for those who qualify<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_2475509\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>White House National <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/economy\/\">Economic<\/a> Council Director <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/kevin-hassett\/\">Kevin Hassett<\/a> said on Friday that the Trump administration is in talks with major banks about voluntarily issuing &ldquo;<a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/donald-trump\/\">Trump<\/a> cards&rdquo; that have a 10% <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/interest-rates\/\">interest<\/a> cap.<\/p>\n<p>The proposal follows President Donald Trump&rsquo;s <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/4421182\/trump-lurched-populist-left-economic-proposals\/\">recent call <\/a>for a one-year cap on credit card interest rates at 10%, a measure aimed at addressing affordability concerns.&nbsp;<\/p>\n<div class=\"recommended-stories\">\n<h2>Recommended Stories<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/entertainment\/4422270\/reality-tv-star-declares-2026-austin-mayoral-run-learns-live-on-tv-election-is-in-2028\/\">Reality TV star declares 2026 Austin mayoral run, learns live on TV election is in 2028<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/4422157\/trump-nice-machado-nobel-peace-prize\/\">Trump: It was &#8216;very nice&#8217; of Machado to give me her Nobel Peace Prize<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/crime\/4422261\/kamala-harris-cites-renee-good-killing-mlk-day-speech-chicago\/\">Harris cites Renee Good killing in MLK Day speech: &lsquo;Sick and tired&rsquo;<\/a><\/li>\n<\/ul>\n<\/div>\n<div class=\"article-paywall\">\n<p>While Trump previously said companies failing to meet this cap by Jan. 20 would be &ldquo;in violation of the law,&rdquo; the path to implementing such a regulation is unclear.<\/p>\n<p>Hassett, a leading contender for the Federal Reserve chairmanship, indicated in a <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.foxbusiness.com\/video\/6387812560112\">Fox Business<\/a> interview that instead of relying on legislation, the administration is in discussions with major banks to voluntarily launch &ldquo;Trump cards&rdquo; that carry the 10% interest cap.<\/p>\n<p>Because there is no law that forces banks to lower their rates, these new cards would be a way for banks to offer lower rates on their own.&nbsp;<\/p>\n<p>The cards would be for people who are in an economic &ldquo;sweet spot,&rdquo; meaning they have stable incomes and are underserved by traditional credit markets, Hassett said.<\/p>\n<p>While some lawmakers have proposed bills to codify the 10% cap, the <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.aba.com\/about-us\/press-room\/press-releases\/ccca-joint-trades-statement\">Bankers Association of America<\/a> warned that a mandatory limit is &ldquo;one surefire way to make life less affordable for Americans.&rdquo;<\/p>\n<p>The &ldquo;Trump card&rdquo; is part of a sweeping affordability agenda the president intends to promote at next week&rsquo;s <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/abcnews.go.com\/International\/wireStory\/trump-set-lead-largest-us-delegation-world-economic-129164203\">World Economic Forum<\/a> in Switzerland.<\/p>\n<p>Hassett also discussed the administration allowing savers to use retirement 401(k) and 529 funds for home down payments. This comes after Trump directed Fannie Mae and Freddie Mac to purchase $200 billion in mortgage-backed securities to lower borrowing costs.<\/p>\n<p><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/energy-and-environment\/4421630\/trump-unveils-plan-shift-power-costs-ai-data-centers\/\"><strong>TRUMP UNVEILS PLAN TO SHIFT POWER COSTS TO AI DATA CENTERS<\/strong><\/a><\/p>\n<p>Further on the affordability agenda, Trump unveiled his &ldquo;<a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/4420284\/trump-outlines-new-great-healthcare-plan-congress\/\">Great Healthcare Plan<\/a>&rdquo; earlier this week. The framework seeks to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hassett-floats-bank-issued-trump-cards-with-10-interest-cap\/\" title=\"... floats ... &#039;Trump cards&#039; with ...\">slash prescription drug prices<\/a> by 80% to 90% and send money directly to consumers to buy insurance, rather than subsidizing insurance companies.<\/p>\n<p>Ongoing discussions centered on cost include a $2,000 &ldquo;<a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/3890658\/white-house-floats-circumventing-congress-tariff-rebate-checks\/\">tariff rebate<\/a>&rdquo; check for low- and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hassett-floats-bank-issued-trump-cards-with-10-interest-cap-2\/\" title=\"... floats ... &#039;Trump cards&#039; with ...\">middle-income households funded<\/a> by import duties.<\/p>\n<\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Banks to offer 10% Trump cards<\/p>\n","protected":false},"author":4130,"featured_media":2539682,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/12\/AP25211523261972.jpg?w=696","fifu_image_alt":"","footnotes":""},"categories":[33651,538],"tags":[71201,33375,53429,71187,3634],"class_list":["post-2539681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-western-journal","category-washington-examiner","tag-banking-policy","tag-credit-cards","tag-hassett","tag-interest-rate-cap","tag-trump"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/12\/AP25211523261972.jpg?w=696","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2539681","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/4130"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2539681"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2539681\/revisions"}],"predecessor-version":[{"id":2539685,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2539681\/revisions\/2539685"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2539682"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2539681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2539681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2539681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}