Credit card debt is weighing heavily on millions of Americans. US President Donald Trump has proposed capping credit card interest rates at 10% for one year starting 20 January. He aims to ease the burden on consumers facing rising rates now averaging 22%. Selena Cooper, 26, lost her job and now owes $6,000. "It would help a little bit, but it's still not going to get me out of debt," she said. Banks including Capital One and American Express have doubled interest rates on her accounts due to missed payments. Trump's plan, part of his campaign promises, has met strong resistance from banks. They warn a rate cap would reduce credit access and hurt customers the most. JP Morgan's CFO Jeremy Barnum said, "People will lose access to credit on a very, very extensive and broad basis, especially the people who need it the most." Citigroup CEO Jane Fraser called the move a "severe impact on access to credit and on consumer spending." Experts say a 10% cap may not fully solve problems for those already in trouble. Banks might lower credit limits or raise fees to maintain revenue, which totals about $160bn a year. But a Vanderbilt University study found a 10% cap could save Americans $100bn annually in interest, notably easing household budgets. Supporters like Morgan, a mother with $6,700 in debt, see it as a step forward. "It's one of the few things he's done that prioritises people over businesses," she said. Bipartisan bills to cap rates already exist, but Congress remains divided. House Speaker Mike Johnson voiced concern about negative side effects and lending pullback. The strong influence of bank lobbying means the proposal faces a tough road ahead. "If the Trump administration backs down, I think it would be because of the bank lobbying," said researcher Brian Shearer. The debate continues as Americans seek relief from rising credit card debts and soaring interest rates.