The Brief

A paper published by Vanderbilt University finds that Americans would save about $100 billion annually in interest costs if President Donald Trump’s 2024 campaign pledge to cap credit card interest rates at 10% were instituted.

Research from the school’s paper found that banks and credit card organizations would be able to oppose, and even still be profitable, if there were to be a national cap on interest rates.

What does Vanderbilt’s research say about Trump’s credit card cap rates?

Dig deeper:

The Vanderbilt University paper determined that banks would still be able to earn a profit on most of their customers even if credit card interest rates were capped at 15%, and if the banks continued to offer rewards and bonuses like points and airport lounge access.

See Full Page