Bipartisan U.S. candidates call for a cap on credit card interest rates
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AI-assisted source synthesis · not an independent investigation.
During the 2026 midterm election campaigns, candidates from both parties successively called for limits on credit card interest rates in response to voters’ concerns about high rates and rising delinquency rates. A May poll showed that 72% of surveyed voters supported capping credit card interest rates at 10% for a period of one year. Banks warned that setting an interest rate cap could restrict access to credit and affect consumer spending. Current reports indicate that this proposal has become one of the positions candidates from both parties have discussed during their campaigns on the issue of credit card affordability, but the reports do not say whether a specific legislative proposal or formal policy has been developed.
AI-written from reports · updated yesterday
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- PYMNTSBipartisan candidates advocate capping credit card interest rates during the campaign
Bipartisan candidates called for limits on credit card interest rates during the midterm election campaign, seeking to respond to voters’ dissatisfaction with high rates and rising delinquency rates. In a May poll, 72% of surveyed voters supported setting a 10% cap on credit card interest rates for one year; banks warned that a cap could reduce access to credit and affect consumer spending.
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