Aruba implements new consumer credit cost limits

The Banco Central di Aruba (BCA) has announced that new regulations regarding consumer credit have come into effect as of August 1, 2026. Under Article 5 of the Landsverordening regeling consumentenkrediet and the Ministerial Regulation of July 29, 2026, new limits have been imposed on various costs associated with consumer loans to protect borrowers.

Key restrictions include:

• Total annual costs, including interest and related fees, cannot exceed 25% per year. • Late payment fees are capped at 2% per month of the outstanding amount. • Extrajudicial collection costs are limited to amounts based on the liquidation tariff applied by the Court of First Instance for Aruba, Curacao, Sint Maarten, Bonaire, Sint Eustatius, and Saba.

These regulations apply to new consumer credits as well as existing credits that are refinanced, restructured, or extended after the effective date.