New lending program targets consumers, business TALF program finally going into operation on March 25, Fed says

A new lending program from the Federal Reserve and the Treasury Department could generate up to $1 trillion in loans to small businesses and consumers, the government announced Tuesday.

The Term Asset-Backed Securities Loan Facility, or TALF, will provide its first loans March 25 .Investors who want to participate will apply to the Fed on March 17.