Joe Biden was one of only three Democratic Senators to vote for the 2005 Bankruptcy Reform Act. The financial industry, including credit card giants like MBNA, needed the support of Democratic Senators to pass the 2005 Bankruptcy Reform Act, which made it difficult for consumers to file for Chapter 7 Bankruptcy and easier for credit card companies to collect on debt.

The outcome? Record profits for the credit card companies at the expense of consumers.

MBNA was Biden’s largest donor, contributing nearly $200,000 during his time in the Senate. Biden’s close relationship with MBNA executives, along with his son’s role as a “consultant” at the firm, likely influenced his decision to vote in favor of the Bill. Coincidentally, his son was working as a “consultant” for MBNA between 2001 and 2005; this, at a time when MBNA and other big credit card firms and banks were lobbying for the 2005 Bankruptcy Reform Act.