TITLE: Malaysia Prescribes Credit Amount Limits for Micro and Small Enterprise Consumer Credit BODY: On the date of publication, Malaysia issued Federal Legislation P.U. (A) 110/2026, the Consumer Credit (Prescription of Credit Amount for Micro or Small Enterprise) Order 2026. This order establishes prescribed credit amount limits applicable to consumer credit facilities extended to micro or small enterprises in Malaysia. The measure forms part of Malaysia's consumer credit regulatory framework and is issued under the relevant provisions of the Consumer Credit Act. The order specifies the maximum credit amounts that may be extended to micro and small enterprises under consumer credit arrangements. By prescribing these limits, the legislation aims to provide clarity to credit providers and protect small business borrowers by establishing standardised thresholds for credit extension. This regulatory approach ensures consistency in the treatment of micro and small enterprise credit across the Malaysian financial services sector. The order is subsidiary legislation, meaning it operates under the authority of a principal act and provides detailed implementation rules. It forms part of Malaysia's broader consumer credit regulatory framework, which governs lending practices and consumer protection in credit transactions. Stakeholders including financial institutions, credit providers, and micro and small enterprises should ensure compliance with the prescribed credit amount lim ... (1805 chars total)

TITLE: New York Establishes Comprehensive Consumer Protections for Buy Now, Pay Later Lending BODY: On February 23, 2026, New York Governor Kathy Hochul announced proposed regulations establishing a licensing and supervisory framework for buy now, pay later (BNPL) lenders operating in the state. The New York Department of Financial Services (DFS) published the proposed rules to implement legislation signed by Governor Hochul as part of the fiscal year 2026 budget. The regulations address gaps in consumer protections for BNPL products, which have grown in popularity but remain subject to fewer regulatory requirements than traditional consumer loans. Key provisions include establishing a licensing framework for all entities engaging in BNPL activities in New York; prohibiting excessive fees, including convenience charges, and limiting late fees and other penalties; requiring lenders to disclose whether loans will be reported to credit reporting agencies; establishing standards for timely consumer dispute resolution; and protecting consumer data against misuse or exploitation. The proposed rules reflect input gathered during a pre-rulemaking information request regarding fee structures, underwriting processes, and the potential impact of fee and interest limits on BNPL business models. New York State Superintendent of Financial Services Kaitlin Asrow stated the regulation ensures innovation is accompanied by robust consumer protection, enabling New Yorkers to use new financi ... (2156 chars total)