Suffolk University Law School Research Professor Kathleen Engel argues in the New York Daily News that the CHOICE Act, a bill rolling back certain consumer protections of the Dodd-Frank Act of the Obama era, will put consumers at risk and plays into the hands of predatory lenders.

Her editorial, “Your consumer protections, on the brink of destruction in Congress,” appeared on June 7. The Act is seen by many experts as a first bid at deregulation by the Trump Administration. The Republican-led reform effort was passed by the U.S. House of Representatives in a party-line vote and has moved on to the Senate.

In her editorial, Engel argues that the CHOICE Act removes regular federal oversight of debt collectors and private student loan lenders and “revokes the CFPB’s power to enforce laws that prohibit unfair, abusive and deceptive practices in consumer transactions.”

Engel, a national authority on consumer credit and mortgage regulation, serves on the Consumer Advisory Board of the Consumer Financial Protection Bureau (CFPB) and was a member of the Consumer Advisory Council of the Federal Reserve Board from 2008 to 2011.

The CHOICE Act will offer huge financial rewards for short-term lenders, she argues, as it prohibits the CFPB from enforcing laws that regulate payday lenders and auto title lenders. These lenders make short-term loans using consumers’ cars as collateral. “This would eliminate legal protections for the people in our society who are the most financially vulnerable,” she adds.

The CFPB “has provided $12 billion in relief to 29 million consumers wronged by banks and other institutions,” according to Engel. More than 150 academic experts on consumer protection law, Engel among them, sent a letter to congressional leaders explaining their objections to the legislation and calling on Congress to vote it down.