Carper and Castle Launch Campaign Against ‘Predatory Lending’, Tell Delaware Valley Residents ‘Don’t Borrow Trouble’

WASHINGTON, DC – Senator Tom Carper and Congressman Mike Castle will join state officials and leaders in the banking industry tomorrow for the statewide launch of Freddie Mac’s “Don’t Borrow Trouble” campaign. Educating Delawareans on predatory lending practices, the campaign is designed to inform Wilmington residents and help them avoid borrowing pitfalls. The press conference will roll out the media campaign, an informative website and a hotline dedicated to answering homebuyer’s tough questions. As former State Treasurer and a current member of the Senate Banking Committee, Carper has taken the lead in protecting consumers against unlawful lending practices throughout his career. “Predatory lending targets minorities and seniors, both an important part of our community,” Carper said. “This is an innovative effort to help buyers recognize lending scams and provide counseling to those caught in the middle. For victims of predatory lending, immediate help is just a phone call away.” “Often it is our senior citizens and our minority communities who are most at risk for scams,” Castle said. These people need a voice, someone to help them, stick up for them and guide them through the home buying, selling and remortgaging processes. That is the goal of Don’t Borrow Trouble.” WHO: Senator Tom Carper Congressman Mike Castle State Treasurer Jack Markell Wilmington Mayor James Baker WHAT: Press Conference to Launch “Don’t Borrow Trouble” campaign to educate against predatory lending WHERE: City Council Chambers 800 French Street, Wilmington WHEN: 8:45 a.m. Kickoff breakfast for press conference attendees 9:30 a.m. Press Conference