Sanders and Hawley’s bill comes after President Donald Trump vowed in the 2024 race to temporarily cap credit card interest rates at 10%.

Senators Bernie Sanders and Josh Hawley say they will propose a 10 percent limit on credit card interest rates.

Senators Bernie Sanders and Josh Hawley introduced new legislation that would cap interest rates on credit cards at 10% to fulfill one of President Trump's campaign promises.

Sen. Bernie Sanders (I-Vt.) and Sen. Josh Hawley (R-Mo.) are expected to introduce bipartisan legislation in the Senate on Tuesday that would cap credit card interest rates at 10%.

The CFPB is investigating credit APRs, and it wants consumers to comment on their rates, terms, and conditions.

A new bipartisan bill introduced in Congress on Tuesday would cap the interest rate that credit card companies can charge at 10%.