NEW YORK — Americans would save roughly $100 billion a year in interest costs if President Donald Trump's campaign proposal to cap credit card interest rates at 10% were implemented, according to a new paper published by Vanderbilt University.

Further, the banks and credit card companies would be able to withstand, and even still be profitable, if there were to be a national cap on interest rates. While limited in scope, the paper gives some academic backing to Trump's campaign promise.

The paper found 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 perks like points and airport lounge access. If interest rates were capped at 10%, the business model gets more

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