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"While Trump claims he wants a credit card interest rate cap, his own regulators are helping out those very same Wall Street banks that are ripping off Americans."
Sen. Elizabeth Warren on Monday slammed President Donald Trump for breaking his promise to cap credit card interest rates.
In an op-ed published by Fox News, Warren noted that Trump last month gave the major US credit card companies a deadline of January 20 to set their interest rates at a maximum of 10% over the next year, or face some form of consequences.
However, that deadline has long since passed and Trump still hasn't done anything to punish the credit card firms for keeping their interest rates high.
What's more, Warren wrote, Trump and his administration have continued gutting the Consumer Financial Protection Bureau (CFPB), which could be used to launch an investigation into credit card billing practices.
"While Trump claims he wants a credit card interest rate cap," Warren argued, "his own regulators are helping out those very same Wall Street banks that are ripping off Americans and blocking states from protecting their citizens from sky-high loans."
The Massachusetts senator also slammed major financial institutions for claiming that capping credit card interest rates would lead to economic disaster.
"Give me a break," she said. "These are the most profitable financial institutions in the history of the world. There is no reason for them to demand 25% or 30% interest rates when smaller banks and credit unions are offering much lower credit card interest rates and are still making solid profits."
Warren revealed that she had a conversation recently with White House Chief of Staff Susie Wiles in which she made a case that it would be politically beneficial to pursue legislation on the issue, but so far the senator has not heard back about any follow-up plans.
"After six weeks, there’s no deal to help the American people," explained Warren. "We don’t need more speeches. We need an agreement on legislation and a commitment from the president to actually fight for it."
Trump's inaction on credit card interest rates came under fire last month from Mike Pierce, executive director of advocacy organization Protect Borrowers, who said that the president would need to lean harder on his congressional allies to make his promises a reality.
"Banks are charging the highest rates ever recorded—raking in windfall profits because both American life and Americans’ debts are more expensive," Pierce said. "If the president is serious about helping families, he needs his Republican allies in Congress to make this a top priority and stand up to the executives and lobbyists trying to protect banks’ bottom lines."
Matthew Stoller, senior researcher at the American Economic Liberties Project, was not surprised that Trump failed to live up to his credit card interest rate pledge.
"Shocker," he wrote in a social media post. "Trump was lying about his 10% credit card interest rate cap."
“This kind of entanglement shows exactly why a person with Wiles’ lengthy record of controversial corporate and foreign lobbying clients is too conflicted to be running the White House," said one advocate.
A court filing in a federal criminal lobbying case against a former Republican congressman confirmed what the government watchdog Public Citizen warned against as soon as President Donald Trump appointed Susie Wiles to be his chief of staff: that her "lobbying client list is both extensive and littered with controversial clients who stand to benefit from having their former lobbyist running the White House."
The court filing was submitted Thursday by the US Department of Justice (DOJ) and sought to "quash" a subpoena that was served to Wiles in December.
Wiles was called to testify as a witness in the case against former Rep. David Rivera (R-Fla.) and his political associate, Esther Nuhfer. They are accused of violating the Foreign Agents Registration Act (FARA) by lobbying on behalf of the sanctioned Venezuelan businessman Raul Gorrín.
According to a grand jury indictment from December 2024, Rivera sought to lobby top US government officials to remove Gorrín from the Specially Designated Nationals and Blocked Persons List. He allegedly worked to conceal and promote Gorrín's criminal activities by creating fraudulent shell companies using names associated with a law firm and with a government official.
Rivera received over $5.5 million for his lobbying activities and did not register under FARA as required by law, according to the DOJ.
The Miami Herald reported late last month that Rivera and Nuhfer are "also accused of trying to 'normalize' relations between the [Venezuelan President Nicolás] Maduro regime and the United States while Rivera’s consulting firm landed a head-turning $50 million lobbying contract with the US subsidiary of Venezuela’s state-owned oil company."
Attorneys for Rivera subpoenaed Wiles at the White House, seeking to compel her to testify about her lobbying work for Ballard Partners on behalf of Globovision, a Caracas-based TV station owned by Gorrín.
As the Herald reported, Wiles worked at Ballard shortly after running Trump's presidential campaign in Florida. Due to her presidential ties she "brought an instant cachet" to the firm, where Gorrín was "hoping to gain access to the new Trump administration, which was threatening economic sanctions against the Maduro regime and Venezuela’s oil industry."
Gorrín was working with Ballard in an attempt to expand Globovision to the US as a Spanish-language affiliate—an aim that presented challenges due to the government sanctions and the Federal Communications Commission's limits on foreign ownership of US TV stations.
Rivera and Nuhfer's lawyers are seeking Wiles' testimony to show that her lobbying firm was trying to influence Trump, "on behalf of Gorrín, to bring about a regime change in Venezuela."
The subpoena document said the defendants' lawyers want to question Wiles on her "extensive communications" regarding Ballard's work with Gorrín and efforts to help the businessman gain access to Trump.
They are also seeking similar testimony from Secretary of State Marco Rubio, who as a senator met privately with Rivera, Nuhfer, and Gorrín at a hotel in Washington in 2017, according to the Herald.
In the court filing, the DOJ said Wiles had "no apparent connection to any of the allegations in the superseding indictment concerning defendants’ activities as unregistered agents of the government of Venezuela."
Public Citizen noted Wiles' work with Ballard in November 2024 when it published the report Meet Susie Wiles’ Controversial Corporate Lobbying Clients, which revealed 42 lobbying clients the chief of staff had between 2017-24.
The client list was "extensive and littered with controversial clients who stand to benefit from having their former lobbyist running the White House," said Public Citizen on Friday.
In addition to Gorrín's TV station, Wiles' represented a waste management company that resisted removing nuclear waste from a landfill, a tobacco firm that sought to block federal restrictions on its candy-flavored cigars, and a foreign mining private equity firm seeking approval to develop a gold mine on federal public lands.
Jon Golinger, Public Citizen's democracy advocate, said Friday that the subpoena in the Rivera case raises even more questions about Wiles' potential conflicts of interest.
“This kind of entanglement," he said, "shows exactly why a person with Wiles’ lengthy record of controversial corporate and foreign lobbying clients is too conflicted to be running the White House."
With the Justice Department under fire for how it's handled the documents, the senators asked Susie Wiles to describe her "role in any process related to the review, redaction, withholding, or release of material."
Two Democratic leaders in the US Senate revealed Tuesday that they're demanding answers from the White House chief of staff, Susie Wiles, about her access to federal files on deceased sex offender Jeffrey Epstein and whether she's involved in their "bungled and potentially illegal partial release."
President Donald Trump had a well-documented friendship with Epstein—at least until a reported falling out in 2004. Although the president ultimately signed the Epstein Files Transparency Act, it came after he faced intense criticism for his administration not willingly releasing the records, and congressional Republicans delayed passage of the bill, which requires the US Department of Justice (DOJ) to publish materials related to the late financier's sex trafficking case.
Senate Judiciary Committee Ranking Member Dick Durbin (D-Ill.) and Sen. Sheldon Whitehouse (D-RI), ranking member for the Subcommittee on Federal Courts, Oversight, Agency Action, and Federal Rights, began their letter to Wiles by pointing to a two-part Vanity Fair series featuring interviews with Trump's top advisers, including Wiles.
As Chris Whipple reported:
Wiles told me she'd read what she calls "the Epstein file." And, she said, "[Trump] is in the file. And we know he's in the file. And he's not in the file doing anything awful." Wiles said that Trump "was on [Epstein's] plane… he's on the manifest. They were, you know, sort of young, single, whatever—I know it's a passé word but sort of young, single playboys together."
Noting those remarks, the senators wrote to Wiles, "Please be kind enough to explain when and where and under what authority you gained access to this material."
They also sent Wiles the list of questions below and requested her response by January 5:
The letter is dated December 22, just three days after the deadline set by the Epstein Files Transparency Act. The DOJ has missed the deadline, released files in batches, and faced scrutiny for redactions.