Joe Biden

Incoming administration officials, especially Treasury Secretary-designate Janet Yellen, are expected to push for stress tests, public disclosures and other requirements aimed at gauging banks' climate exposure and minimizing the threat of global warming to the financial system.

The head of the House Financial Services Committee is already exerting influence by handing the president-elect a laundry list of Trump regulatory policies that she wants the incoming administration to reverse.

The Consumer Financial Protection Bureau has taken a hands-off approach to servicers during the pandemic. But with forbearance plans set to expire and President-elect Biden likely to appoint new CFPB leadership, companies lacking aggressive plans to help borrowers could face tougher enforcement.

It includes simpler Paycheck Protection Program forgiveness and a consistent approach from federal regulators to reforming the Community Reinvestment Act, says Bank of America's Christine Channels, who chairs the Consumer Bankers Association's board.

Financial disparities have only worsened during the coronavirus pandemic. President-elect Biden’s team could address this issue by establishing an office of economic equality under the Financial Stability Oversight Council.