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(Excerpt from a client folio published by Morgan Stanley)

Miscellaneous Business, Labor and Manufacturing

A handful of other commercial issues currently dominate the attention of lawmakers and federal officials – payday lending reform, credit card abuse, union elections, infrastructure improvements – and Obama has identified each as a priority in 2009.

In general, Obama supports a more consumer protection-oriented approach than McCain would have. A good example was the Obama campaign’s focus on payday lending abuses. To protect lower-income individuals, Obama has announced his intention to cap interest rates on payday loans at 36 percent, while seeking to provide borrowers with clearer, simplified disclosures on loan fees, payments and penalties. He would encourage banks and credit unions to increase small-denomination, short-term consumer loans.

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