The Consumer Financial Protection Bureau (CFPB) achieved many wins on behalf of the American public in eight years, but Pres. Obama’s and Pres. Trump's political inclinations influenced enforcement strategies. Under President Biden, expect the CFPB to return to its roots.

Credit card issuers, and lenders in general, should prepare for the shift and consider the consumer’s financial position. In this go-round, the focus will be inclusion, pricing, and consideration for the consumer’s ability to repay.