On Jul. 3, MLT GVT issued consumer credit amendment regulations.
MLT GVT issued L.N. 179 of 2026, the Banking Act (Consumer Credit) (Amendment) Regulations, 2026, amending the Banking Act (Consumer Credit) Regulations.
Follows MLT GVT Nov. 2025 issued rules for financial institutions and banks, #276544.
Key Points
New and revised definitions introduced for advisory services, ancillary services, creditor, credit intermediary, open-end credit agreement, and Credit Intermediaries Rules.
Creditor definition clarified to mean a company holding a credit institution licence issued by the Authority under article 7 of the Act.
Creditors required to explicitly inform consumers whether advisory services are being or may be provided in the context of a given transaction.
Advisory services may also be provided incidentally by other persons in regulated professional activities, insolvency practitioners, and public or voluntary independent debt advisory providers.
New regulation 6A introduced requiring creditors and credit intermediaries to ensure staff maintain an updated and appropriate level of knowledge and competence in credit products, consumer credit law, over-indebtedness, business ethics, and creditworthiness assessment.
Regulations shall prevail over any contrary provisions in consumer credit agreements; any waiver by the consumer of rights granted under the regulations shall be null and void.
Protections apply where the credit agreement has a close link with the territory of Malta or any other Member State, regardless of governing law clause.
Maximum administrative penalty for non-compliance increased to €150,000 per breach, imposable by the Authority by written notice without recourse to a court hearing.
Effectiveness
Regulations enter into force on Nov. 20, 2026.
Principal regulations continue to apply to credit agreements entered into before Nov. 21, 2026 until their termination.
Regulators
MLT GVT
Entity Types
Bank; Corp; CU; Inv Co; MG Orig; MSB
Reference
OG 21,682, 7/3/2026; LN 179/2026; Banking Act (CAP 371)
