Treasury Announces New Website Detailing Financial Stability Plan Programs
The U.S. Department of the Treasury launched a new web site--FinancialStability.gov – to provide the American people with information about the Obama Administration's efforts to stabilize our financial system.
At FinancialStability.gov, users will learn about the design of the Administration's Financial Stability Plan and its impact on opening up lending to consumers and businesses. Under the plan, Treasury has announced detailed programs to address falling housing prices through a mortgage refinancing and modification program that will help up to 9 million American stay in their homes; unlock frozen credit markets through a Consumer and Business Lending Initiative to jumpstart new auto, credit card and student loans; assess banks' need for an extra capital cushion in the face of a worsening economy and provide them with access to capital through the Capital Assistance Program; and buy up troubled assets weighing down bank balance sheets through a Public Private Investment Program, allowing banks to raise private capital and increase lending.
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