The Globe and Mail reports in its Monday edition that President Donald Trump is reviving a campaign pledge for a one-year, 10-per-cent cap on credit-card interest rates. An Associated Press dispatch to The Globe reports that Mr. Trump was unclear on Friday about whether a cap would be implemented via executive action or legislation. However, a Republican senator, who spoke with the President, indicated he would craft a bill with Mr. Trump's "full support," hoping to have it in place by Jan. 20. Strong opposition from Wall Street and credit-card companies, who backed Mr. Trump's 2024 campaign, is expected. Banks argue that the plan would harm low-income individuals by cutting credit lines, pushing them toward high-cost alternatives like payday loans or pawnshops. "We will no longer let the American Public be ripped off by Credit Card Companies that are charging Interest Rates of 20 to 30 per cent," Mr. Trump wrote on his Truth Social platform. Researchers found that capping credit-card rates at 10 per cent could save Americans about $100-billion (U.S.) annually in interest. While the credit-card industry would be significantly impacted, it would remain profitable, though rewards and perks might be reduced.