The U.S. Consumer Financial Protection Bureau has pursued an ambitious regulatory agenda in the final weeks of the Biden administration, setting the stage for legal fights and congressional scrutiny in the years ahead—and for President-elect Donald Trump to show how deep his populist rhetoric goes.

The agency, under the leadership of Director Rohit Chopra, has been no stranger to controversy, enacting regulations that have earned the ire of banking lobbyists who say the agency is improperly expanding its regulatory powers—all while fending off a constitutional attack on its funding structure.