Day: March 30, 2011

It is confusing to have different laws dealing with different types of consumer credit. Depending on the type of credit facility, it could be under the Pawnbrokers Act, or the Money Lending Act or the Banking and Financial Institutions Act or even the Hire-Purchase Act. With the uncertain economic times, it is best that consumers avoid signing up for any new credit facilities. They should not be...

Cardholders have the right to know that whenever their lost or stolen credit cards are used by others they should (in most cases) not have to pay more than RM250. Yet oftentimes they end up paying much more. This is because Bank Negara has not informed cardholders that they do not have to pay more than RM250 for fraudulent transactions carried out using their lost or stolen cards, when they had...