The connectors on my fold-down step are binding. This started after I rubbed a curb with the fold-out step lowered (unbeknownst to me). I’ve never really had to look at the step before.
I discovered that a left to right displacement arose from a loose thumb nut at the top left step support. But the right hardware binds every time opening and closing. I can push it to the inside as it moves to avoid binding, but I’d rather it just WORK.
Hard to tell from your descrip exactly what's binding, but I had what I think was the same problem, caused when I hit a curb with the step. I fixed it by putting a small pry bar into the gap where the pin slides, and bending it farther open. Spray lube to finish, works fine now.