In 2001, Joe Biden’s son, Hunter Biden, received a 5 year deal worth at least $500,000 from the credit card company MBNA. This means that Hunter Biden was still being paid upwards of $100,000 by MBNA in 2005 when then Senator Joe Biden successfully voted to pass a new bankruptcy law that directly benefited his son’s employer.
The law at issue is the Bankruptcy Abuse Prevention and Consumer Protection Act. The act made it extremely difficult for Americans to eliminate credit card or student loan debts after they declare bankruptcy. The bill was heavily supported by Democrat Presidential nominee Joe Biden back in 2005.
Back in 2008, The New York Times suggested that Hunter Biden’s job with MBNA created a potential conflict of interest for then Senator Joe Biden. Despite this, Obama’s campaign aides back in 2008 defended Biden, who was ultimately selected as Obama’s Vice Presidential candidate. According to The New York Times, aides described the conflict of interest as “one of the most sensitive issues they examined while vetting the senator for a spot on the ticket”. It should be noted that Hunter’s job with MBNA did not become public until after the Bankruptcy Abuse Prevention and Consumer Protection Act was passed.