Sen.
Bernie Sanders (I-Vt) on Wednesday said President Donald Trump lied about his promise to cap credit card interest rates at 10% while major banks continued to earn billions from consumer lending.
Banks Earned Billions From Credit Card Interest In a post on X, Sanders said major banks earned $49 billion in profit last quarter while charging 25% to 30% credit card interest rates, even as working Americans struggled to pay their bills.
He added that Congress should "take on the outrageous greed and usury of Wall Street," accusing banks of profiting from consumers facing high borrowing costs.
Trump promised to cap credit card interest rates at 10%.He lied.Last quarter, while working people struggle to pay their bills, big banks made a $49 billion profit charging 25-30% credit card interest rates.We must take on the outrageous greed and usury of Wall Street.— Bernie Sanders (@BernieSanders) July 15, 2026 Read Also: Cathie Wood Bets $16.6 Million on SpaceX as Elon Musk's Rocket Company Falls Below IPO Price Trump's 10% Cap Remains Unfulfilled Sanders referred to Trump's proposal to temporarily cap credit card interest rates at 10%, which the president announced in January as part of a broader push to address consumer affordability.
