Enhancing consumer credit protection

The second public consultation paper covers the requirements on authorisation, governance and conduct expected of all non-bank credit providers as well as credit service providers which are currently unregulated.

KUALA LUMPUR: In its continuous effort to afford credit protection to individuals as well as micro and small-sized businesses, the Consumer Credit Oversight Board Task Force (CCOB Task Force) has issued its second public consultation paper (CP2), which invites feedback on the proposed regulatory framework for credit businesses and credit service businesses.

The CP2, building on the first consultation paper issued in August last year, covers the requirements on authorisation, governance and conduct expected of all non-bank credit providers as well as credit service providers which are currently unregulated.