{"id":2539696,"date":"2026-01-16T18:48:56","date_gmt":"2026-01-16T23:48:56","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hassett-floats-bank-issued-trump-cards-with-10-interest-cap-4\/"},"modified":"2026-01-16T18:50:51","modified_gmt":"2026-01-16T23:50:51","slug":"hassett-floats-bank-issued-trump-cards-with-10-interest-cap-4","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hassett-floats-bank-issued-trump-cards-with-10-interest-cap-4\/","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=\"float:left\"><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-4%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=2539696&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>The White House&#8217;s Kevin Hassett said the Trump management is discussing with major banks the voluntary issuance of &#8220;Trump cards&#8221; capped at a 10% interest rate, following President Trump&#8217;s call for a one-year 10% cap on credit-card rates. As no law currently mandates such a limit, the plan would rely on banks offering lower-rate products voluntarily rather than through immediate regulation.<\/p>\n<p>Hassett said the cards would target borrowers in an economic &#8220;sweet spot&#8221;-those with stable incomes who are underserved by conventional credit markets. He is a contender for the Federal Reserve chair and discussed this proposal on Fox Business. Lawmakers have floated legislation to codify a cap, while banking groups warn that a mandatory limit could have harmful consequences for affordability.<\/p>\n<p>The card proposal is part of a broader affordability agenda Trump plans to promote at the World Economic Forum, wich also includes allowing 401(k) and 529 withdrawals for home down payments, directing Fannie Mae and Freddie Mac to buy $200 billion in mortgage-backed securities, a healthcare plan to sharply lower prescription costs, and discussion of $2,000 &#8220;tariff rebate&#8221; checks for low- and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-releases-list-of-president-trumps-accomplishments-and-it-is-historic\/\" title=\"White House Releases List of President Trump\u2019s Accomplishments \u2013  And It Is Historic!\">middle-income households<\/a>.  <\/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 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/credit-card-interest-rates-reach-all-time-high\/\" title=\"Credit Card Interest ... Reach All...Time High\">credit card interest rates<\/a> 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 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/turkeys-lira-sinks-again-as-erdogan-cites-islamic-sharia-law-to-defend-economic-management\/\" title=\"Turkey\u2019s Lira Sinks Again as Erdogan Cites Islamic Sharia Law to Defend ... Management\">lower borrowing costs<\/a>.<\/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:\/\/amzn.to\/3YuVZYV\" >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\/\" title=\"... floats bank...issued &#039;Trump ...&#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>Hassett proposes Trump cards at 10% interest cap<\/p>\n","protected":false},"author":4130,"featured_media":2539697,"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":[71203,71202,53429,3634],"class_list":["post-2539696","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-western-journal","category-washington-examiner","tag-10-percent-interest-cap","tag-bank-issued-cards","tag-hassett","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\/2539696","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=2539696"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2539696\/revisions"}],"predecessor-version":[{"id":2539700,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2539696\/revisions\/2539700"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2539697"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2539696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2539696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2539696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}