Trump announces one-year 10% cap on credit card interest rates

Critics express doubt president can implement such a move without approval from Congress

Donald Trump announced a one-year cap that would limit credit card interest rates to 10% this week, in a move that has prompted mixed reaction from lawmakers and beyond.

The president's social media post on Friday night said the restriction would take effect on 20 January, but he did not provide specifics on how the government would implement it or ensure that companies comply.