Fiscal conservatives hate the idea of price caps, including Trump's credit card cap idea, says Trump's former chief of staff.

Former President Donald Trump said he wants to impose a temporary 10% cap on credit-card interest rates. While the pledge was met with cheers at a rally this week, it is a long shot and could have unintended consequences if it became a reality.

Republican presidential nominee Donald Trump on Wednesday promised to cap interest rates for credit cards, but a veteran analyst predicts the plan wouldn’t get the congressional approval that it needs to become reality.

Former President Donald Trump floated limiting annual credit card interest rates to a maximum of 10% during a campaign stop on Long Island Wednesday night, prompting banking groups to push back against the plan as the Republican version of Democrat Kamala Harris’ widely panned “price controls.