Employing content analysis of secondary data, this article examines the recent transformative regulatory reform of consumer credit industry in Malaysia. The reform addresses deficiencies in the old fragmented regime through collaboration of several agencies and will be implemented gradually in three phases. It introduces new law namely the Consumer Credit Act (CCA) that will eventually replace the scattered laws and the establishment of the Consumer Credit Commission, the regulator of unregulated credit business and credit service business prior to the CCA. Moreover, recognition of consumer protection provisions, regulation of Islamic credit business offered by non-bank and licensing requirements for previously unregulated industries are among critical elements introduced by the CCA. This article is noteworthy in providing overviews of this new reform to other jurisdictions seeking the most appropriate regulatory model for consumer credit industry. The reform is expected to offer a balanced protection to consumers as well as credit providers and simultaneously promoting sustainable and robust consumer credit ecosystem.