Former President Trump has made a controversial proposal to cap credit card interest rates at 10% for one year, citing affordability concerns for American consumers struggling with rising debt. The proposal has drawn mixed reactions, with some banking groups and financial experts warning that such a cap could limit credit availability and potentially harm consumers. Critics, including notable figures like Bill Ackman and Bernie Sanders, have labeled the proposal as a mistake or unacceptable, raising questions about its feasibility and enforcement. Meanwhile, major credit card companies are bracing for potential impacts on their business models as reactions continue to unfold.