Al Franken on Corporations DFL Challenger

Level the playing field for middle class against industry

• A Credit Card Bill Of Rights: Ban ‘universal default’; Ban mandatory arbitration clauses.
• Crack Down On Predatory Payday Lenders: Cap the interest rate on ‘payday’ loans at 36%; Require proof of income before a cash advance is approved.
• Repeal The 2005 Bankruptcy Bill: Repeal the bill written by the banks and credit card companies. Mandate an exemption in bankruptcy law for individuals who can prove they filed for bankruptcy because of medical expenses. Require prioritization of child support and alimony payments before credit card debt in bankruptcy proceedings.