"We draw strength from yet another American community that has come together with an unmistakable message to those who will try to do us harm: We will not give in to fear, you cannot divide Americans, you can never change our way of life or the values of freedom and diversity that make us Americans," Obama said in a address to the 116th Veterans of Foreign Wars National Convention.
"We honor our five service members killed so senselessly in Chattanooga," he said. "We are grateful to the courageous police who stopped the rampage and saved lives."
Obama also defended the nuclear deal his administration recently completed with Iran as well as his opening to Cuba.
The President decried what he call the "shaky information out there" concerning the Iran deal and said that he wanted to make sure "people know the facts."
In his speech, Obama also highlighted the opening of the U.S. Embassy in Cuba and America's goal of implementing "freedom" and "universal values" around the world.
The main focus of the speech, however, was the completion of a set of stronger rules to protect servicemen and women from predatory lending.
The White House says the change will close the loopholes in the Military Lending Act of 2006 that allowed lenders and credit card companies to charge interest rates higher than 35 percent.
This announcement comes on the five-year anniversary of the Dodd-Frank Act, which aimed to increase consumer protections.
Obama said the work is not done because the VA is still struggling to keep up with veterans who need care.
Following his remarks, the President will head to New York for his final taping of the Daily Show with Jon Stewart.
Stewart's tenure at the satirical news show on Comedy Central will come to a close on August 6.
The President can be expected to be asked about Donald Trump and his latest remarks about Senator John McCain not being a war hero.
On Monday, the during the daily briefing, Press Secretary Josh Earnest touched on this, saying "even in the midst of their competitive, 2008 campaign for the White House ... Sen. Obama expressed his admiration and deep respect for Sen. McCain's heroism."
Additionally, Obama will likely face questions on the Iran nuclear deal, which was unanimously endorsed by the U.N. Security Council Monday but still faces major opposition from members of both parties in Congress.
This is Obama's third appearance on the Daily Show as President. In 2010, he became the first sitting president to appear on the show. Before his presidential election, Obama visited the set four times, as both a U.S. Senator and presidential candidate.
CORRECTION: Obama referred in his remarks to the U.S. Embassy opening in Cuba, not the Cuban Embassy opening in the U.S. as was previously reported.