On Tuesday, the Parliament of Aruba treated the national ordinance Regeling Consumentenkrediet (regulation of consumer credit).
The Minister of Economic Affairs, mr. Geoffrey Wever, explained that this law basically regulates the maximum percentage companies are able to offer credit with interest. They will also introduce certain rules to prevent the so called ‘over crediting’.
There are major issues within the community where consumers take on too much credit and rack up costly debts. This makes it difficult sometimes for consumers to get out of deep financial issues. These problems bring many other social as well as mental health issues along with it.
For the Minister, this law is highly important to offer consumers protection.
