Credit is undeniably the lifeblood of modern economies. Its use and the issues arising from it intersect with many aspects of commercial law, including consumer protection, which is the aspect of law that specifically protects consumers. A wise use of credit in catering to one’s basic needs and more could reasonably be linked to the user’s success in life. Needless to say, if individuals have sufficient access to affordable credit, the economy in which they operate will generally do well. Thus, given the heightened importance of credit and its indispensability in the economic well-being of financial consumers, it is possible that in the absence of a sufficient regulatory framework and enforcement, these consumers would easily be subjected to the onerous and exploitative lending practices of financial institutions. Indeed, if the terms of debt repayment were unilaterally stipulated, and more likely unconscionable and difficult to fulfill by consumers, their eventual default becomes the entry point of their vulnerability and losses. Yet, it is difficult to begrudge financial institutions for being excessively protective of their customers’ money, especially if they were acting within the confines of the relevant prudential lending guidelines typically issued by central banks, the aim of which is to secure lending transactions and significantly reduce the avoidable risk of losing their customers’ deposits. As more financial institutions obtain operational licenses to do business, the competition among them could increase and cause them to engage in financial innovations that might bear deceptive outlooks, including the creation and sale of shrouded products to financial consumers.