Sen. Warren says Trump called her about credit cards, affordability
President Donald Trump reached out to Sen. Elizabeth Warren, D-Mass., on Monday to collaborate on capping interest rates on credit cards. Warren, who serves as the Senate Banking Committee ranking member, shared during an interview on CNBC’s “Squawk Box” that Trump expressed interest in working together on this issue. She stated, “He said he wanted to work on that, I said, ‘Great, let’s get something done.'”
The phone call between Trump and Warren came after the Senator delivered a speech at the National Press Club, where she outlined a strategy for Democrats to regain majorities in the House and Senate during the 2026 midterms. Despite being a frequent target of Trump’s criticism in the past, Warren emphasized that the President had not taken any action to address credit card interest rate caps before their conversation.
In a recent post on Truth Social, Trump proposed limiting credit card interest rates to 10%. However, Republicans on Capitol Hill have been cautious about endorsing this proposal, expressing concerns that it could restrict access to credit for Americans. House Speaker Mike Johnson highlighted the importance of considering potential negative consequences before moving forward with such a policy. He cautioned, “You gotta be very careful if you go forward in that, in our zeal to bring down costs, you don’t want to have negative secondary effects of that.”
Johnson emphasized the need for a thorough and deliberate approach to addressing credit card interest rates to avoid unintended consequences. It remains to be seen how Trump and Warren will navigate this issue moving forward and whether they will be able to find common ground on capping interest rates on credit cards.
