Donald Trump 's Presidential Election

1250 Words Nov 29th, 2016 5 Pages
Donald Trump 's victory in the 2016 presidential election took many people by surprise. Pollsters, political analysts, news anchors and even celebrities expressed shock that a Washington outsider could triumph over a candidate with Hillary Clinton 's history in politics. Clinton and Trump expressed views throughout their campaigns that were in direct opposition, including their opinions on the Dodd-Frank Act, the legislation that spawned the controversial Consumer Financial Protection Bureau. As you may know, the CFPB has proposed sweeping new regulations for short-term, small-dollar installment loans that could effectively eliminate these types of loans. Although the Dodd-Frank and the CFPB have received a great deal of support from President Obama as well as Clinton, Trump has repeatedly vowed to "dismantle" both the agency and the Dodd-Frank. This has led to speculation that Trump 's election may be a death blow to Obama 's plan to kill non-collateralized personal installment loans.

How Trump 's Election Could Doom Obama 's War on Installment Loans
In October 2016, a federal appeals court ruled that the CFPB was structured in an unconstitutional manner. The court ruled that a federal agency under the control of a single executive violated "settled historical practice" and posed a greater risk of abuse of power as well as arbitrary decisions. One part of the ruling that could prove empowering to Trump is that the court ruled that the director of the CFPB was not only…
Open Document