Conservative influencer Arynne Wexler criticized President Trump’s proposal to cap credit card interest rates at 10%, labeling it a socialist policy that could harm credit access. Wexler, who has a background from Wharton Business School, highlighted that this cap might not effectively lower existing rates and could deter lenders from providing credit. She expressed concerns about the potential rise of predatory lending if access to credit is restricted. House Speaker Mike Johnson also cautioned about the negative consequences of such a unilateral move, emphasizing the need for careful consideration of the impacts on lending.
