New consumer protections against abusive lending practices have been placed on hold by the Trump Administration for another 15 months. The protections that were enacted in 2017 were set to take effect this week are now being delayed, perhaps indefinitely. The reasoning behind the delay of this consumer safeguard: ‘It’s too troublesome for lenders.’
The delay is being viewed as just another example of the current administration stripping away consumer-friendly policies enacted under the Obama administration.