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How a 10% Credit Card Rate Cap Would Touch Every Corner of the Pool Industry

A proposed 10% credit card rate cap would tighten credit and touch virtually all levels of the swimming pool industry.

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How a 10% Credit-Card Rate Cap Could Touch Every Corner of the Pool Industry

When President Donald Trump proposed a credit card rate cap of 10 percent, the national debate quickly centered on consumers and Wall Street. Supporters argued it would ease the burden of sky-high APRs, while critics warned of unintended market consequences.

“Please be informed that we will no longer let the American Public be ‘ripped off’ by Credit Card Companies that are charging Interest Rates of 20 to 30%, and even more,” Trump posted on social media Friday. He later told reporters that companies that ignore the proposed cap would be considered to be breaking the law.

A 10% Credit Card Rate Cap: How It Could Impact the Pool Industry If Markets Begin Adapting

For the pool industry, the issue is less about politics and more about how changes to credit flow affect homeowners and contractors alike.

Pools live at the intersection of discretionary spending and credit availability. New builds rely on loans and home-equity products. Repairs, renovations, and service calls are often paid with credit cards. On the contractor side, business credit cards function as working capital. When the rules of consumer credit change, every part of the pool ecosystem feels it.

The Risk of a Credit Freeze - the biggest danger of a rate cap is not expensive money — it is disappearing money.

The Risk of a Credit Freeze

William Stern, Founder of Cardiff, believes the biggest danger of a rate cap is not expensive money — it is disappearing money.

“It’s basic economics: Price controls create shortages. If you cap credit card rates at 10%, banks aren’t going to just smile and take the hit. They’re going to stop issuing cards to anyone who looks even remotely risky. The intention might be to help the working class, but the reality is it’s going to cut off their access to credit entirely. We’re going to see a massive credit freeze where you’re trading ‘expensive’ money for no money.”

Credit cards are not just payment tools. They are the backbone of consumer credit scoring. Banks use revolving credit history to determine who qualifies for personal loans, HELOCs, and contractor-financing programs. When issuers tighten card approvals or cut limits, the ripple effect reaches far beyond the card itself.

For pool buyers, that shows up as:
• Fewer financing approvals
• Smaller loan amounts
• Larger required down payments
• More deals falling apart late in the sales process

To understand why a 10 percent cap would represent such a dramatic shift, it helps to look at how today’s credit-card market actually works. Current rates vary widely depending on risk, but across the board they are far higher than the level being proposed.

How a 10% Credit-Card Cap Compares to Today’s Market

Type of CreditTypical Interest RateWhat It Means
Average U.S. credit-card APR~23%Current market average, more than double the proposed 10% cap
Lower-credit-score borrowersUp to ~36%Risk-based pricing means higher-risk consumers pay far more
Store credit cardsOver 30%Retail cards often carry the highest APRs in the market
Federal credit unions (legal cap)18%Existing law already limits credit-union rates — but far above 10%

When you put those numbers side by side, it becomes clear just how radical a 10 percent cap would be. It is not a small adjustment — it would require lenders to slash rates by more than half for the average cardholder and by even more for anyone with less-than-perfect credit. That kind of compression doesn’t come without consequences. Instead of simply making credit cheaper, it changes who gets access to it at all — which is where the pool industry begins to feel the impact.

New Builds Feel It Through Financing

Most new pool projects are funded with home-equity loans, personal loans, or third-party financing — not credit cards. But those products rely on the same credit data that credit cards generate.

When revolving credit disappears or shrinks:
• Borrowers’ utilization spikes
• Credit scores drop
• Loan approvals become harder
• Risk pricing increases

That means fewer homeowners qualify for large projects, and those who do may qualify for less. A customer who could once finance a full backyard with a spa, automation, and water features might now only qualify for a basic pool — or nothing at all.

Credit Rate Cap - Pool Service, Repairs, and Renovations Take the First Hit

Pool Service, Repairs, and Renovations Take the First Hit

Where credit cards matter most in the pool industry is not construction — it is ownership.

Service contracts, emergency repairs, equipment replacements, automation upgrades, resurfacing jobs, and renovations are routinely paid with credit cards. When a pump dies or a heater fails, homeowners often rely on short-term credit to approve the work immediately.

If access to cards tightens or limits are reduced:
• Repairs get delayed
• Homeowners choose cheaper fixes
• Renovation projects shrink
• Preventive maintenance is postponed

That hits service companies, repair technicians, and remodelers long before it shows up in new-build statistics.

The Contractor Liquidity Problem

The other side of this story is what happens to pool businesses themselves.

“People forget that for Main Street, the business credit card is the working capital loan,” Stern says. “A plumber or a contractor lives on that float to buy materials. If this cap goes through, issuers are going to slash credit limits overnight to protect their downside. A business owner relying on a $20,000 limit might wake up to find it cut to $5,000. It’s going to pull the rug out from under millions of small businesses that rely on that liquidity to keep the doors open.”

Pool companies depend on credit cards to:
• Buy equipment and parts
• Pay subcontractors while waiting on draws
• Cover payroll
• Handle emergency jobs
• Manage seasonal cash-flow swings

When that float disappears, companies do not collapse overnight — they slow down. Fewer jobs run at once. Inventory gets tighter. Growth plans get shelved. That quiet contraction is how credit stress shows up in the trades.

Why Consumers Might Not Actually Save

Supporters of a credit card rate cap assume lower APRs equal cheaper credit. But Stern says that misunderstands how banks operate.

“You can’t legislate the price of risk. If the government caps the interest rate, the banks are just going to move the cost somewhere else. We’ll see the end of cash-back rewards, the end of airline points, and the return of massive annual fees. The consumer isn’t actually saving money; the bank is just changing how they bill for it. It’s a political shell game, not an economic solution.”

For pool customers, those hidden costs matter. Rewards programs, promo rates, and deferred-interest offers reduce the psychological barrier to approving a project. When those disappear, homeowners hesitate — even if the headline interest rate is lower.

Industry Insiders Say It Will Never Happen

Greg Powell, a longtime pool-industry lender and principal at Viking Capital (PoolLoan.net), reacted with incredulity to news of Trump’s 10% credit card rate cap, stating that it is fundamentally unworkable.

“My take is that there is a zero percent chance credit card rates get capped at all, let alone at 10%,” Powell says. “Every credit card issuer would stop extending credit, or 80% of the cards out there would be shut down. You can’t lend 10% money to 550-credit-score borrowers. They’d revoke every card that’s over 10%—which is the majority of them. It would shut down the entire economy. It’s just another distraction.”

Powell compares it to other headline-grabbing financial ideas that generate buzz but never make it through the realities of capital markets.

“It’s like the 50-year mortgage Trump floated a few months ago. Everybody speculates on it, but it’s obviously never happening.”

What Pool Pros Should Watch

Stern warns about what a cap would do. Powell says it won’t ever get that far. But both agree on one thing: the mere threat of price controls changes lender behavior. Whether or not a cap becomes law, builders and service companies should continue to monitor the following in the coming months:

• Financing approval rates
• Credit-limit reductions
• Changes in lender behavior
• Consumer hesitation on upgrades
• Cash-flow pressure inside their own businesses

The Bottom Line

A 10 percent credit card rate cap might sound like consumer relief, but it risks triggering tighter underwriting, shrinking credit access, and creating liquidity stress for small businesses.

For the pool industry — from weekly service routes to six-figure backyard builds — that matters. Credit is not just how people pay. It is how projects begin, how repairs get approved, and how contractors stay afloat.

That’s why this debate deserves close attention from everyone in the industry.

5/5 - (26 votes)

Joe Trusty

Editor in Chief of Pool Magazine - Joe Trusty is also CEO of PoolMarketing.com, the leading digital agency for the pool industry. An internet entrepreneur, software developer, author, and marketing professional with a long history in the pool industry. Joe oversees the writing and creative staff at Pool Magazine.

To contact Joe Trusty email [email protected] or call (916) 467-9118 during normal business hours. For submissions, please send your message to [email protected]

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Tech Company Fills Dangerous Abandoned Pool After Safety Concerns Raised By Industry Expert

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Tech Company Fills Dangerous Abandoned Pool After Safety Concerns Raised By Industry Expert

A neglected swimming pool sitting on property owned by Micron Technology has finally been filled in nearly three years after the company purchased the site — ending a situation that neighbors and pool safety professionals had warned posed serious risks.

According to recent reports, construction crews this week demolished the boarded-up home on Henry Clay Boulevard in Clay, New York, and filled the abandoned in-ground swimming pool with gravel after months of concerns over stagnant water, mosquitoes, and public safety hazards.

The property had remained vacant since Micron purchased it in August 2023 as part of the company’s massive semiconductor expansion project in Central New York.

A Dangerous Situation Drawing Attention

For pool industry professionals, the story highlights a recurring issue involving abandoned residential pools and the liabilities they can quickly create when properties sit unattended for extended periods.

“You have an unoccupied property that has a potential dangerous condition,” said Wendy Purser of the Pool & Hot Tub Alliance in comments to Syracuse.com last month.

Neighbors reportedly complained the pool had become filled with stagnant water and leaves while remaining openly accessible for months. Concerns ranged from accidental drownings to mosquito infestations and waterborne health issues.

Under New York state building codes, residential swimming pools are required to be maintained in a “clean and sanitary condition.” Local regulations in the Town of Clay reportedly go even further, requiring abandoned pools to be filled to ground level and reported to the town codes office.

The abandoned pool can easily be seen in this Google Earth satellite image of the property.
The abandoned pool can easily be seen in this Google Earth satellite image of the property.

Town Officials Step In

According to the report, town officials were initially unaware of the condition of the property until contacted by reporters in April. Following an inspection, the town secured the property by locking the gate surrounding the pool area.

The situation also drew the attention of local health officials. Onondaga County had reportedly planned mosquito treatment measures for the stagnant water after concerns emerged over disease-carrying insects breeding in the pool.

Two weeks after the issue became public, a spokesperson for Micron stated that demolition and pool removal had already been planned as part of the company’s broader redevelopment work.

What Is Micron Building in New York?

Micron reportedly paid $500,000 for the property, which will ultimately be used to support underground infrastructure connected to the company’s planned semiconductor manufacturing campus.

While many outside the tech industry may not recognize the name, Micron Technology is one of the largest semiconductor manufacturers in the United States. The company produces memory and storage chips used in everything from smartphones and laptops to AI systems, cloud computing infrastructure, vehicles, and advanced electronics.

Its planned New York expansion has been described as a semiconductor “megafab” project that could eventually total roughly $100 billion in investment. The Clay development north of Syracuse is expected to create thousands of jobs while dramatically expanding domestic chip manufacturing capacity in the United States.

The first fabrication facility is currently expected to come online later this decade after delays pushed back earlier timelines. Micron has indicated the broader campus could eventually include four separate chipmaking plants.

Why Abandoned Pools Become a Serious Liability

While the scale of the development may be enormous, the abandoned pool became an example of how quickly neglected aquatic environments can become liabilities — particularly when ownership changes hands and residential properties sit dormant.

For pool professionals, the story reinforces an issue the industry has long emphasized: an unused swimming pool still requires active maintenance, monitoring, and secure barriers regardless of whether the property is occupied.

Standing water in abandoned pools can rapidly become breeding grounds for mosquitoes, algae, bacteria, and other contaminants. At the same time, unsecured pools remain one of the most serious accidental drowning risks for children.

Industry experts frequently point out that even pools awaiting demolition or redevelopment must still comply with local safety and sanitation requirements.

Ultimately, crews resolved the situation by removing the pool entirely — bringing an end to a problem that had drawn increasing scrutiny from neighbors, health officials, and pool safety advocates alike.

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POOLCORP Welcomes John Watwood as President and Chief Executive Officer

Seasoned distribution leader to drive POOLCORP’s next chapter of growth, deepening commitment to customers and supply partners

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COVINGTON, LA., May 14, 2026 — POOLCORP, the world’s largest wholesale distributor of swimming pool and outdoor living products, recently announced the appointment of John Watwood as President and Chief Executive Officer.

Watwood joined the company in January 2026 as Executive Vice President and has quickly made an impact after spending much of his time in POOLCORP sales centers, meeting with customers, engaging with suppliers, and aligning closely with teams across the business. With extensive leadership experience in industrial and specialty distribution, Watwood brings a deep understanding of how to build high-performing teams, strengthen customer connections, and create long-term value in the industry.

Prior to joining POOLCORP, Watwood served as Senior Vice President of Sales and Operations at Motion Industries, a leading distributor of industrial parts and value-added solutions and a subsidiary of Genuine Parts Company. During his career, he has led large-scale sales and operations organizations focused on customer growth, supply chain excellence, and market expansion.

“John has gained the trust of our employees, customers, and suppliers in a very short period of time,” said Kenny St. Romain, Senior Vice President at POOLCORP. “He understands distribution at its core, but more importantly, he understands the value of relationships and the local support that our customers need. Our field teams have seen firsthand his commitment to listening, supporting our customers, and helping us continue to evolve our already successful service model. There’s real excitement across the organization about where we’re headed under John’s leadership.”

Watwood’s appointment marks the next chapter for POOLCORP as the company continues to invest in customer-focused solutions, sales and service excellence, operational capabilities, and technology-enabled experiences designed to help industry professionals grow and operate more efficiently.

“I’m incredibly honored to lead POOLCORP in an industry built on lasting partnerships, trust, and service,” said Watwood. “What has stood out to me most over the last several months is the passion of our people and the strength of our relationships. I am excited to build upon our incredible legacy and look forward to strengthening our support for the industry by deepening our customer and supplier relationships, and continuing to invest in the people, capabilities, and execution that make POOLCORP the best and most value-driven distribution partner.”

About Pool Corporation

POOLCORP is the world’s largest wholesale distributor of swimming pool and related outdoor living products. The Company operates approximately 455 sales centers in North America, Europe, and Australia, through which it distributes more than 200,000 products to roughly 125,000 wholesale customers, including pool builders, retail stores, and service professionals. For more information, please visit www.poolcorp.com.

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When Pool Projects Become Political – Trump’s Pool Contractor Got Review Bombed

Political controversy surrounding the Lincoln Memorial Reflecting Pool put a pool contractor at the center of a national backlash.

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There are pool projects, and then there are projects that stop being about pools altogether.

The resurfacing of the Lincoln Memorial Reflecting Pool has become one of the most politically charged aquatic construction stories in recent memory, dragging a relatively unknown contractor, Atlantic Industrial Coatings, directly into the center of a national media firestorm. What might otherwise have been viewed as a complex waterproofing and restoration project is now being debated across cable news, social media, mainstream newspapers, and Google Reviews by people who have never hired the company, worked with the company, or, in many cases, likely even heard of the company before last week.

As the controversy intensified following reporting by The New York Times and other national media outlets, Atlantic Industrial Coatings’ Google Business profile was inundated with one-star reviews from non-customers condemning the company over the project, the politics surrounding it, and the reported ballooning cost of the renovation itself.

Some reviewers accused the company of “destroying” a national monument. Others referenced the project’s no-bid contract status, allegations of favoritism, and ties between the contractor and President Donald Trump. Several reviews contained no written explanation whatsoever, simply dropping the company’s rating lower with anonymous one-star hits.

For contractors in the pool and aquatic construction industry, the situation raises a difficult question:

What happens when taking on a nationally visible project turns your business into collateral damage in a political war you never intended to participate in?

Public Outrage vs Legitimate Reviews

Review bombing is hardly new. Restaurants, hotels, brands, entertainers, and public figures have all experienced it at one time or another. But the reflecting pool controversy highlights how vulnerable contractors can be when political outrage spills into business platforms that were originally intended to measure customer satisfaction.

Atlantic Industrial Coatings currently sits with a devastatingly low Google rating following a flood of politically motivated reviews. Many of the posts appear to come from individuals who were never customers and never interacted with the company in any traditional business capacity.

That distinction is important.

Google reviews were originally designed to help consumers evaluate legitimate customer experiences. Did the contractor show up? Was the workmanship good? Did the company honor its warranty? Was communication professional? Those are the kinds of things reviews are supposed to reflect.

Instead, Atlantic Industrial Coatings is being judged by people reacting to headlines, politics, presidential associations, and media narratives surrounding the reflecting pool restoration.

To those in the trade reading this, that may feel deeply unfair.

A company can spend years building its reputation one project at a time only to watch its online presence get torched in a matter of days because of a politically radioactive contract.

At the same time, there is another side to this discussion that cannot simply be dismissed.

Critics Are Not Inventing the Controversy

To be clear, the backlash here did not emerge out of thin air.

The core issue driving public outrage is not merely the coating color or aesthetic concerns surrounding the reflecting pool. The controversy centers on allegations reported by major national media outlets that a renovation originally discussed publicly as a roughly $1.8 million repair project reportedly ballooned into $13.1 million without a competitive bidding process.

That scrutiny intensified even further after preservation groups filed suit attempting to stop the project altogether, arguing the Trump administration bypassed historic review procedures and oversight protections surrounding one of Washington’s most iconic landmarks.

Critics argue that a taxpayer-funded restoration project tied to the Lincoln Memorial deserves intense public scrutiny, especially if normal procurement channels and preservation reviews were circumvented.

Those are legitimate public-interest questions.

It’s also true that Atlantic Industrial Coatings had never previously held a federal contract before being awarded the reflecting pool project, further fueling criticism surrounding the administration’s selection of the company. At the same time, President Trump publicly described the contractor as “a guy who’s unbelievable at doing swimming pools” who had worked on projects connected to his properties.

Industry experts have also raised legitimate technical concerns about the renovation itself. Tim Auerhahn, chairman of The Aquatic Council, told The New York Times that the reflecting pool’s longstanding algae and filtration issues would not simply disappear because the basin was coated blue, stating plainly, “Painting is not going to solve that problem.”

It is not unreasonable for journalists, watchdog groups, preservation advocates, or even members of the pool industry itself to question how a federal project increased in scope and cost so dramatically, or whether the work being performed fully addresses the reflecting pool’s underlying structural and mechanical problems.

The problem is that public scrutiny surrounding a project can quickly become public punishment of the contractor itself.

And those are not necessarily the same thing.

Critics are sounding off because of a $13.1 million dollar no-bid contract awarded to restore the Lincoln Memorial Reflecting pool.
Critics are sounding off because of a $13.1 million dollar no-bid contract awarded to restore the Lincoln Memorial Reflecting pool. Photo Credit – Erik Cox Photography

Contractors Rarely Control the Politics Around a Job

One of the realities of working in construction, especially at the commercial or municipal level, is that contractors often inherit political baggage they did not create.

A contractor may bid or accept work based on technical specifications, project scope, deadlines, and compensation. They are not necessarily the architects of procurement policy, government oversight, or political messaging surrounding the project.

If the reports are accurate that Atlantic Industrial Coatings was brought in under accelerated timelines for a nationally scrutinized restoration effort, they may simply have been the company willing and capable of executing the work under extraordinary pressure.

That distinction is important because the online reaction increasingly treats the contractor as though they were personally responsible for every political decision tied to the project.

For contractors watching this unfold, the message is unsettling.

Take on a politically sensitive project and your business may become permanently associated with national controversy whether you intended that or not.

“Trump’s Pool Guy” and the Optics Problem

The optics surrounding the project became even more combustible once national reporting began characterizing Atlantic Industrial Coatings as connected to Trump properties and previous work involving the president’s golf clubs.

Fair or unfair, that framing changed the narrative instantly.

The company was no longer simply a contractor restoring a reflecting basin. It became, in the public imagination, “Trump’s pool contractor.” In today’s hyper-polarized climate, that label alone was enough to trigger backlash regardless of the technical merits of the work itself.

For some people, the project immediately became symbolic of broader grievances involving politics, government spending, favoritism, and executive power.

Once that happened, Atlantic Industrial Coatings was no longer operating inside the normal rules of reputation management.

They became a proxy target.

Is Google Responsible for Fixing This?

That question is becoming increasingly difficult for platforms to ignore.

Google’s policies prohibit reviews from people who did not have a legitimate experience with a business, and many of the reviews targeting Atlantic Industrial Coatings appear to fall squarely into that category. Several are openly political, some contain no actual review content, and others seem tied entirely to reactions from national news coverage rather than firsthand customer experiences.

At the same time, the situation is more nuanced than a traditional fake review campaign.

Critics would argue the company accepted a highly visible public contract tied to taxpayer money, historic preservation concerns, and a politically charged administration. Supporters counter that Google Reviews were never intended to become a public referendum on federal politics or presidential decision-making.

That’s really the issue.

Atlantic Industrial Coatings is not being judged primarily on workmanship, communication, or customer satisfaction. The company is being judged on a national controversy surrounding a project most reviewers have no direct connection to.

For contractors, that’s a troubling precedent.

Because once online review systems become vehicles for political outrage rather than legitimate customer feedback, any company attached to a controversial public project can find its reputation under attack regardless of the quality of its work — suddenly becoming one headline away from being the next target.

Watch this article as a video:

Featured Photo Credit: ZUMA Press, Inc. | Alamy


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