re: Trump caps credit card interest at 10%

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What law exactly would they be in violation of?

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The unwritten law of "not doing what Trump wants".

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What law exactly would they be in violation of?

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The unwritten law of "not doing what Trump wants".

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I've been watching this thread with interest.

Is it definitive he can do this legally or not?

Does the federal code have usury laws (I thought that was a state function)?

If so, does it give the executive power to regulate or did Congress provide a formula (noting that the Fed or a central bank hasn't always been around)?

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Trump caps credit card interest at 10%

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This would be amazing! When people get down and out, the banks do their part to crush you with absurd interest rates that make it damn near impossible to get out of credit card hell! I wish it would even be up to at least 3 years to help people seriously get out of debt!