This study assesses the ex-post financial impact of new laws on the private credit. Using a panel data set of 33 countries over the 2003-2016 period, we confirm that the number of new laws financially matters. An increase of the number of new laws enacted by the parliaments of developed countries significantly hampers the credit extension. The weak adaptability of debtors to severe legal changes may reduce their loan reimbursement capacity leading to a reduction of the domestic credit. In addition, banks tend to value more the legal changes over the legal stability only in the developed countries that have public institutions of moderate quality. Surprisingly, the growth of the private credit provided by banks does not benefit from the enactment of more new laws in the developing countries. Those banks probably anticipate the need of the developing countries to change the legal system through the adoption of new laws.