Today is Saturday, January 17, 2026. While the ink is still drying on several major policy shifts from earlier this week, the big talk in Washington right now isn't about a signed piece of paper sitting on the Resolute Desk today. It’s about the massive shockwave coming for your wallet. Specifically, the White House has signaled it is in the final stages of a massive Credit Card Interest Rate Cap executive order that aims to fundamentally change how much you pay to borrow money.
You've probably felt the squeeze lately. Everything is more expensive. Basically, the administration is moving to fulfill a campaign promise by potentially capping credit card interest rates at 10%. Honestly, if you’re carrying a balance, this is the kind of news that makes you sit up a little straighter. But there’s a lot of noise out there about what this actually means for your access to credit and whether the banks are going to let it happen without a fight.
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The Push for a 10% Interest Rate Cap
The administration's focus today has shifted toward "affordability challenges." This isn't just political theater; it's a direct response to the fact that the average credit card APR has been hovering at record highs. Reports from the White House indicate that officials are currently debating the final terms of an executive action that would seek to override state usury limits by invoking the interstate commerce clause.
It’s a bold move.
Some consumer advocates, like Adam Rust from the Consumer Federation of America, are cautiously optimistic but realistic. They’re looking for a "reasonable rate" that doesn't cause banks to simply stop lending to anyone with a credit score under 700. If the cap is too low, the fear is that banks will pull back so hard that the people who need the credit the most—those struggling to get by—will be the ones left in the cold.
Why This Matters for Your Savings
If this order goes through, it’s not just about the interest rate. It’s part of a broader "affordability push" that includes:
- A potential ban on institutional investors buying up single-family homes.
- Efforts to lower overall costs for American families.
- Pressuring regulators to relax liquidity standards for banks to make the interest cap more "attractive" to the financial sector.
Looking Back at a Busy Week
While today is about the anticipation of the rate cap, we can't ignore the massive orders that hit the books just days ago. On January 14, 2026, the President issued a major proclamation regarding Processed Critical Minerals. This wasn't just a boring trade memo. It invoked Section 232 of the Trade Expansion Act to address national security risks tied to minerals like lithium, cobalt, and graphite.
The U.S. is currently 100% import-dependent for 12 critical minerals. That’s a terrifying statistic when you realize how much of our technology—from your iPhone to the next-generation fighter jets—depends on these materials. The order doesn't slap tariffs on them immediately, but it starts a clock for the Department of Commerce to negotiate new trade agreements. If those negotiations fail? The tariffs are coming.
The Warfighter Order and Defense Contractors
Earlier this month, we also saw the Prioritizing the Warfighter in Defense Contracting order. This one was a gut punch to big defense firms. It effectively banned stock buybacks and dividend payments for any defense contractor that isn't meeting production deadlines or quality standards.
The logic is simple: if you’re failing to build the weapons the military needs, you shouldn't be rewarding your shareholders with cash. The Secretary of War now has the power to demand "remediation plans" and can even cap executive pay if these companies don't get their acts together.
The International Exodus
We also saw a significant memorandum on January 7, 2026, directing the U.S. to withdraw from a long list of international organizations. We're talking about the Intergovernmental Panel on Climate Change (IPCC), the International Renewable Energy Agency (IRENA), and even certain UN programs focused on forest degradation. The administration's stance is that these organizations are "contrary to the interests of the United States." This is a massive shift toward isolationism that will have ripple effects in global diplomacy for the next decade.
What You Should Do Now
The landscape is changing fast. If the Credit Card Interest Rate Cap becomes official in the next 48 to 72 hours, here is how you should prepare:
- Check Your Current APR: Don't wait for a news alert. Look at your statements today. Know exactly what you're paying so you can see if your bank tries to "adjust" your terms before a cap hits.
- Watch for Lending Changes: If you were planning on applying for a new line of credit, you might want to move sooner rather than later. If banks feel a cap is coming, they may tighten their approval criteria immediately.
- Keep an Eye on the Courts: Expect the American Bankers Association to file a lawsuit the second this is signed. This will likely be tied up in the courts for months, so don't expect your 24.99% APR to drop to 10% by Tuesday.
- Monitor Critical Mineral Impact: If you work in tech or manufacturing, the shift in critical mineral policy will likely affect supply chain costs. It's time to diversify your suppliers if you're heavily reliant on Chinese-processed materials.
The reality is that executive orders are powerful, but they aren't magic wands. They face legal challenges, bureaucratic slowdowns, and industry pushback. Staying informed is the only way to make sure these high-level policy shifts don't catch your personal finances off guard.