LONDON (AP) — Star batter Steve Smith and his dislocated finger are going with Australia to the Caribbean.
Smith doesn't need surgery on the compound dislocation to his right pinkie from the World Test Championship final at Lord's, captain Pat Cummins said on Saturday.
But Smith's appearance in the three-test series against the West Indies starting on June 25 in Barbados remained a major doubt.
"I'd say first test maybe unlikely and then go from there, but it's a bit early just to tell,” Cummins said.
Smith became the highest non-English run-scorer in tests at Lord's and was hurt at a decisive moment in the final against South Africa on Friday.
Standing at first slip and closer to the wickets than usual, his finger was smashed by an edge off South Africa captain Temba Bavuma and he dropped the catch. Bavuma was on 2 and went on to 66 in a match-winning stand with opener Aiden Markram, who scored 136.
Smith's finger should heal in two weeks and he could play depending on his tolerance for wearing a splint. He has to wear the splint for eight weeks, which encompasses the entire series.
Cummins was grateful that the West Indies tests — their opening series in the 2025-27 WTC cycle — mean they don't have long to lick their wounds after losing the final by five wickets inside four days.
“To make these finals, it's normally off the back of being really strong at home, but you've got to win some away series too,” Cummins said. "We've got a good chance to do that straight away. A three-test-match series out there, it means we're into some really important cricket.
“So, in some ways, it's good we get to dust ourselves off and turn around in a couple of weeks and start looking ahead to the next one. That's one of the good things about the World Test Championship, every test series and every test match feels like you're playing for something significant.”
Cummins said they naturally want to be in the 2027 final but the makeup of what is an aging team has to be balanced between giving new talent a chance while trying to win matches, with an Ashes home series coming up in November. It wouldn't surprise if there are test retirements after that.
“It does feel like a little bit of a fresh start,” Cummins said. "Fast forward a couple of years, you start thinking about who's going to win. Hopefully if we make the final, who's going to be in that? Do we want to get some games into them? Do we feel like now is the right time to change? Or do you hold with the team that got us to the final?
“A new WTC cycle in some ways does feel like a bit of a reset.”
Cummins had a good final, taking seven wickets and reaching 300 for his career, but he believes Australia let slip a second straight WTC title after having the upper hand at times. He felt their 74-run first-innings lead could have been more.
“There's lots of moments where both teams wrestled back control,” he said.
"Our first-innings lead was really important. But it was an opportunity where we could have batted the opposition out of the game by putting on well over 300 plus.
“We didn't give ourselves a big enough buffer and we let them back into the game. It's disappointing to miss a huge opportunity like this, and when it happens by a little bit it leaves you feeling a bit empty.”
AP cricket: https://apnews.com/hub/cricket
Australia's Steve Smith, left, and bowling coach Daniel Vettori watch players warm up before the start of play on day four of the World Test Championship final between South Africa and Australia at Lord's cricket ground in London, Saturday, June 14, 2025. (AP Photo/Kirsty Wigglesworth)
Australia's captain Pat Cummins, left, celebrates with teammates after the dismissal of South Africa's captain Temba Bavuma on day four of the World Test Championship final between South Africa and Australia at Lord's cricket ground in London, Saturday, June 14, 2025. (AP Photo/Kirsty Wigglesworth)
NEW YORK (AP) — Reviving a campaign pledge, President Donald Trump wants a one-year, 10% cap on credit card interest rates, a move that could save Americans tens of billions of dollars but drew immediate opposition from an industry that has been in his corner.
Trump was not clear in his social media post Friday night whether a cap might take effect through executive action or legislation, though one Republican senator said he had spoken with the president and would work on a bill with his “full support.” Trump said he hoped it would be in place Jan. 20, one year after he took office.
Strong opposition is certain from Wall Street in addition to the credit card companies, which donated heavily to his 2024 campaign and have supported Trump's second-term agenda. Banks are making the argument that such a plan would most hurt poor people, at a time of economic concern, by curtailing or eliminating credit lines, driving them to high-cost alternatives like payday loans or pawnshops.
“We will no longer let the American Public be ripped off by Credit Card Companies that are charging Interest Rates of 20 to 30%,” Trump wrote on his Truth Social platform.
Researchers who studied Trump’s campaign pledge after it was first announced found that Americans would save roughly $100 billion in interest a year if credit card rates were capped at 10%. The same researchers found that while the credit card industry would take a major hit, it would still be profitable, although credit card rewards and other perks might be scaled back.
About 195 million people in the United States had credit cards in 2024 and were assessed $160 billion in interest charges, the Consumer Financial Protection Bureau says. Americans are now carrying more credit card debt than ever, to the tune of about $1.23 trillion, according to figures from the New York Federal Reserve for the third quarter last year.
Further, Americans are paying, on average, between 19.65% and 21.5% in interest on credit cards according to the Federal Reserve and other industry tracking sources. That has come down in the past year as the central bank lowered benchmark rates, but is near the highs since federal regulators started tracking credit card rates in the mid-1990s. That’s significantly higher than a decade ago, when the average credit card interest rate was roughly 12%.
The Republican administration has proved particularly friendly until now to the credit card industry.
Capital One got little resistance from the White House when it finalized its purchase and merger with Discover Financial in early 2025, a deal that created the nation’s largest credit card company. The Consumer Financial Protection Bureau, which is largely tasked with going after credit card companies for alleged wrongdoing, has been largely nonfunctional since Trump took office.
In a joint statement, the banking industry was opposed to Trump's proposal.
“If enacted, this cap would only drive consumers toward less regulated, more costly alternatives," the American Bankers Association and allied groups said.
Bank lobbyists have long argued that lowering interest rates on their credit card products would require the banks to lend less to high-risk borrowers. When Congress enacted a cap on the fee that stores pay large banks when customers use a debit card, banks responded by removing all rewards and perks from those cards. Debit card rewards only recently have trickled back into consumers' hands. For example, United Airlines now has a debit card that gives miles with purchases.
The U.S. already places interest rate caps on some financial products and for some demographics. The Military Lending Act makes it illegal to charge active-duty service members more than 36% for any financial product. The national regulator for credit unions has capped interest rates on credit union credit cards at 18%.
Credit card companies earn three streams of revenue from their products: fees charged to merchants, fees charged to customers and the interest charged on balances. The argument from some researchers and left-leaning policymakers is that the banks earn enough revenue from merchants to keep them profitable if interest rates were capped.
"A 10% credit card interest cap would save Americans $100 billion a year without causing massive account closures, as banks claim. That’s because the few large banks that dominate the credit card market are making absolutely massive profits on customers at all income levels," said Brian Shearer, director of competition and regulatory policy at the Vanderbilt Policy Accelerator, who wrote the research on the industry's impact of Trump's proposal last year.
There are some historic examples that interest rate caps do cut off the less creditworthy to financial products because banks are not able to price risk correctly. Arkansas has a strictly enforced interest rate cap of 17% and evidence points to the poor and less creditworthy being cut out of consumer credit markets in the state. Shearer's research showed that an interest rate cap of 10% would likely result in banks lending less to those with credit scores below 600.
The White House did not respond to questions about how the president seeks to cap the rate or whether he has spoken with credit card companies about the idea.
Sen. Roger Marshall, R-Kan., who said he talked with Trump on Friday night, said the effort is meant to “lower costs for American families and to reign in greedy credit card companies who have been ripping off hardworking Americans for too long."
Legislation in both the House and the Senate would do what Trump is seeking.
Sens. Bernie Sanders, I-Vt., and Josh Hawley, R-Mo., released a plan in February that would immediately cap interest rates at 10% for five years, hoping to use Trump’s campaign promise to build momentum for their measure.
Hours before Trump's post, Sanders said that the president, rather than working to cap interest rates, had taken steps to deregulate big banks that allowed them to charge much higher credit card fees.
Reps. Alexandria Ocasio-Cortez, D-N.Y., and Anna Paulina Luna, R-Fla., have proposed similar legislation. Ocasio-Cortez is a frequent political target of Trump, while Luna is a close ally of the president.
Seung Min Kim reported from West Palm Beach, Fla.
President Donald Trump arrives on Air Force One at Palm Beach International Airport, Friday, Jan. 9, 2025, in West Palm Beach, Fla. (AP Photo/Julia Demaree Nikhinson)
FILE - Visa and Mastercard credit cards are shown in Buffalo Grove, Ill., Feb. 8, 2024. (AP Photo/Nam Y. Huh, File)
