And he can’t do this by edict! It’s another fodder for his stupid magaloons.

Where's our money?

This would have to be implemented via a law passed by Congress. Hoo’s executive orders only apply to executive branch people. He could order DoJ to try to prosecute companies who don’t obey the order, but even the Korrupt Korpulent korpolite’s DoJ can’t charge violating a nonexistent law

This POS has delusions of granduer.

I bet there are conditions in the "fine print" that would punish late payors or those exceeding a percentage of their credit limit. Guess who those would be?

Another scenario is that absolutely credit card companies will tighten who they give credit to. That will leave the poorest of the poor at the mercy of payday and other predators.

Just like he forgot about the $2000 checks. It's just a sham, anyway.

Just some bullshit populism IQ47 wants his dipshit cultists to believe he *wanted* to do for them. When it fails to happen, he'll say "well we tried but they wouldn't let us do it!" to direct the public's ire towards an ephemeral "them", instead of himself re: why they're all in such financial straits.

It's gaslighting, IOW, just like the DOGE checks were (and almost everything else that asshat and his regime say).

Of course by January 20th he will honestly have no recollection of it, with his dementia.

...of his threat to require the NFL to return to the old kickoff rules. The new rule does not display enough pain, violence, and injury for his liking.

Unless congress passes a law with penalties and an enforcement mechanism, nobody is going to be prosecuted for ignoring another idiotic Trump EO.

The banking lobbyists will be flooding the halls of congress with checks for whoever commits to voting NO. We already seen in the past few weeks that fewer and fewer republicans are intimidated by Trump, and won’t be bullied into joining the Dems in supporting this bill (which hasn’t even been drafted or introduced in the banking committee yet)

He said it.

You might want to chat with James Comey and Leticia James about how those rushed impulsive prosecutions turned out.

And they were charged with violating actual laws, not an unenforceable executive order.

if the credit card companies are worried about default, they can deny people cards or cut their limits.

Obviously, Trump isn't going to magically reduce rates to 10% (which is significantly less than most non-intro rates across the board), but wanting an actual law that caps credit card interest rates for carried balances is completely reasonable and a totally progressive agenda item.

The Consumer Financial Protection Bureau shielded bank customers from predatory practices by banks, such as failing to sequence deposits so as to prevent overdraft fees. The destruction of the CFPB will create hardship for lower income citizens. Trump, with his hypocritical, meaningless executive order, is lying to lower income citizens that he is fighting for them. If he is ever questioned as to why credit card interest rates did not come down, he will blame it on the Democrats.

he wants those companies to give him cash gifts, once they do that, he'll back off the threat.

It's all open, blatant, criminality.

a long-time advocate for capping credit card interest rates, received a call from Trump after she delivered a speech on affordability. During their conversation, she emphasized the need for immediate action to help families struggling with high costs. Warren has been critical of Trump's past inaction on this issue, stating, "No more delays. It's time to deliver relief for American families."

He's a) desperate to find an appeal to boost his popularity among disenchanted magats, b) shaking down banks into paying him off to not go through with it and c) distracting from Epstein files.

He's only in power because rich bastards think they'll get even richer. If he actually screws over banks, he's toast.

…to throw that idiot off the roof.

A 10 percent interest rate will kill the credit card industry. Back when usury rates existed they were all above that, and that was 40 years ago.