Barack Obama and Joe Biden's Campaign Promise
Support Families
Encourage Responsible Lending Institutions to Make Small Consumer Loans:
Some mainstream, responsible lending institutions are beginning to enter the short-term lending market to provide many Americans with fair alternatives to predatory lending institutions. Barack Obama and Joe Biden will work with his Secretary of Treasury and the Federal Deposit Insurance Corporation to encourage banks, credit unions and Community Development Financial Institutions to provide affordable short-term and small dollar loans – and to drive the sharks out of business.