Warren says Congress could work with Trump to cap credit card rates

Washington — Sen. Elizabeth Warren and President Trump don't agree on much, but Warren suggests they might be able to work together on capping credit card interest rates and potentially addressing other cost-of-living issues.

Mr. Trump has expressed a desire to cap credit card rates, something that Warren, a progressive Democrat from Massachusetts, has long supported. Late Friday, Mr. Trump proposed capping rates at 10% for one year. After Warren delivered a speech Monday morning criticizing Mr. Trump's record on affordability issues and saying he should pick up the phone to do something about capping credit card interest, Warren said the president called her.

"After my speech, the president called me, and I delivered this same message on affordability to him directly," Warren said in a statement. "I told him that Congress can pass legislation to cap credit card rates if he will actually fight for it."

She said she also urged him to "get House Republicans to pass the bipartisan ROAD to Housing Act, which passed the Senate with unanimous support and would build more housing and lower costs."

The president hasn't shared his side of the phone call.

Capping credit card interest rates would be a tall order for a Republican-controlled Congress. Bank stocks dipped after Mr. Trump proposed the rate cap over the weekend.

Warren and Mr. Trump have long been vocal in their criticism of each other. On the campaign trail in 2016 and since, he sometimes referred to her as "Pocahontas" after Warren claimed to have some Cherokee Nation heritage.

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