Why Washington Is Cracking Down On The Credit Card Industry

The Fox News Rundown

FOX News Podcasts

News, Daily News, Politics

3.4 • 1.7K Ratings

🗓️ 15 January 2026

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

President Trump is proposing a one-year cap on credit card interest rates at 10% alongside the Credit Card Competition Act, a bipartisan push aimed at increasing competition in the credit card processing industry–moves supporters say could ease cost-of-living pressures for Americans. Sen. Roger Marshall joins to discuss the potential impacts and criticisms of the proposals, his push for greater competition across industries, and the bipartisan cooperation behind the credit card bill. Prediction markets like Polymarket allow users to place bets on the outcomes of real-world events like sports, elections or global conflicts. But their rapid growth is raising new questions in Washington as a U.S. version rolls out. Lawmakers are warning that government insiders could be using non-public information to profit on these platforms, following high-profile trades tied to major political and international developments. Chris Giancarlo, the former chairman of the Commodity Futures Trading Commission, joins the Rundown to talk about what exactly Polymarket is and whether it needs tighter rules to prevent insider trading. Plus, commentary by former Vice President Mike Pence. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	I'm Shannon Bream.
0:00.9	I'm Bill Hemmer.
0:01.8	I'm Kennedy, and this is the Fox News Rundown.
0:07.9	Thursday, January 15th, 2026.
0:12.4	I'm Dave Anthony.
0:13.7	Credit card companies don't like it.
0:15.5	But President Trump and some in Congress want to put a cap on interest rates and reduce fees.
0:21.9	Between the president's credit card bill and my credit card bill, we would bring down the price
0:26.5	of gas and groceries 1 to 2%. We would save Americans probably $300 a month.
0:32.2	We speak with Republican Senator Roger Marshall.
0:35.1	I'm Jessica Rosenthal. Sports, politics, world events, all of it's being bet on using new prediction market platforms.
0:42.1	But some in Congress are worried insider trading may be happening on these platforms at high levels of government.
0:48.2	These markets do present new novel areas of bad behavior, and that's why you need cops on the beat to go after that
0:54.7	behavior. But the wrong answer is to say, well, let's just hope it goes away. New innovations
0:59.4	never go away. And I'm former Vice President Mike Pence. I've got the final word on the Fox News
1:05.2	Rundown. We are being ripped off by credit card companies, charging us high interest rates.
1:15.7	That's what President Trump maintains, telling reporters,
1:18.6	They have no idea that they're paying 30%.
1:20.9	No way.
1:22.3	We're putting a one-year cap at 10%.
1:24.7	And that's it.
1:26.0	They know it.
	...

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