OBL in the Headlines: Crain's Cleveland Business Article on 10% Interest Rate Cap

02/11/26

OBL's President & CEO, Michael Adelman, recently sat down for an interview with Crain's Cleveland Business on President Trump's 10% interest rate cap, warning that this is a bad idea for both consumers and for businesses. Adelman pushed back strongly against a proposed 10 % cap on credit-card interest rates, warning that what may sound like a consumer-friendly idea could end up hurting the very people it is meant to help. According to the Crain's Clevelandreporting, bankers argue that forcing a one-size-fits-all cap would make credit-card lending unprofitable at current cost and risk levels, prompting issuers to tighten credit standards, reduce credit limits, raise fees, and cut popular rewards programs to make up for lost revenue. They contend this would particularly harm borrowers with lower credit scores, many of whom rely on credit cards for everyday spending or emergencies, by effectively pushing them out of the market or toward higher-cost, less-regulated alternativessuch as payday loans or other predatory credit sources, a concern echoed in joint industry letters and polls showing broad consumer worry about reduced credit access. OBLhas issued statements arguing that artificial price controls like this could shrink access to credit, weaken consumer spending, and ultimately leave many Americans worse off. To read the full article, click here.