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Mehul Madia

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Mehul Madia, special counsel in the firm's Washington, D.C. office, provides deep consumer finance and fintech expertise to clients, leveraging more than 15 years’ of public and private sector experience.

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On December 15, the Board of Governors of the Federal Reserve System and the CFPB issued joint final rules amending the official interpretations to their regulations implementing the Consumer Leasing Act and the Truth in Lending Act. The amendments reflect the annual inflation adjustment required by statute and increase the exemption thresholds effective January 1, 2026.Continue Reading CFPB and Federal Reserve Finalize 2026 Inflation Adjustments to Consumer Leasing and Truth in Lending Coverage Thresholds

On December 15, the CFPB issued a final rule amending Regulation V under the Fair Credit Reporting Act to update the maximum amount a consumer reporting agency may charge a consumer for certain file disclosures. The amendment implements FCRA’s annual inflation adjustment requirement and sets the ceiling for calendar year 2026.Continue Reading CFPB Finalizes 2026 Increase to Fair Credit Reporting Act Disclosure Fee Cap

On December 10, 2025, the National Credit Union Administration announced a new Deregulation Project and issued the first package of proposed rules aimed at streamlining its regulatory framework for federally insured credit unions under the Federal Credit Union Act.Continue Reading NCUA Launches Deregulation Project and Proposes Four Rules to Streamline Credit Union Regulations

On December 9, FinCEN announced a consent order imposing a $3.5 million civil money penalty on a peer-to-peer virtual asset trading platform, alleging willful violations of the Bank Secrecy Act. FinCEN alleged that the platform’s compliance failures allowed it to process substantial volumes of transactions connected to criminal activity, sanctions exposure, and other high-risk conduct over an extended period.Continue Reading FinCEN Assesses $3.5 Million Penalty Against Virtual Asset Platform for Alleged BSA Violations

On December 8, the CFTC announced a series of staff actions addressing the use of digital assets and tokenized assets as collateral in regulated derivatives markets. The actions include issuance of staff guidance on tokenized collateral, a staff no-action letter applicable to futures commission merchants, and withdrawal of a prior staff advisory related to virtual currencies held in segregation.Continue Reading CFTC Rolls Out Digital Asset Collateral Pilot, Issues Tokenized Collateral Guidance, and Withdraws Prior Virtual Currency Advisory

On December 10, in a federal court filing, the CFPB stated that it plans to issue an interim final rule revising its open banking framework under the Dodd Frank Act’s Section 1033. The disclosure came in a status report filed in the Kentucky federal court litigation challenge over the rule that directed banks to make account data available free of charge for consumer sharing with fintechs.Continue Reading CFPB Signals It Will Issue Interim Open Banking Rule as Funding Lapse Approaches

On November 17, 2025, the SEC’s Division of Examinations released its examination priorities for fiscal year 2026, identifying areas the agency alleges present heightened compliance and investor protection risks under the federal securities laws. The priorities apply to investment advisers, investment companies, broker-dealers, municipal advisors, transfer agents, self-regulatory organizations, clearing agencies, and other registrants overseen by the Division.Continue Reading SEC Releases 2026 Examination Priorities Highlighting Compliance, Information Security, and Emerging Technology

On December 8, the OCC and the FDIC announced that they are rescinding the 2013 Interagency Guidance on Leveraged Lending and the 2014 FAQs. The agencies explained that banks should instead manage leveraged lending activities under generally applicable safe and sound lending principles, including underwriting, credit administration, and risk rating standards used for other commercial loan portfolios.Continue Reading OCC and FDIC Withdraw Leveraged Lending Guidance

On November 25, the Washington Department of Financial Institutions (DFI) issued a Temporary Order to Cease and Desist and a Statement of Charges against a virtual-currency kiosk operator, alleging violations of the Uniform Money Services Act arising from its Washington money-transmission activities. The agency alleges that the company engaged in unsafe and unsound practices and failed to safeguard customer funds.Continue Reading Washington DFI Seeks License Revocation and Industry Ban After Alleged Uniform Money Services Act Violations

On December 2, a non-governmental policy organization affiliated with Democratic state attorneys general announced the formation of a Consumer Protection and Affordability Working Group. The initiative will be supported by participating attorneys general and advised by Rohit Chopra, the former Director of the Consumer Financial Protection Bureau and former Commissioner at the Federal Trade Commission.Continue Reading Former CFPB Director to Lead New Consumer Protection and Affordability Initiative