Organic Law Repealing the Credit Information Bureau Law


This Law creates the Credit Registration Information Database (CRID). This database will accrue individualized information on credit operations. Credit history information shall be made available to its holder and to whomever he authorizes to have it.

Information in the CRID shall be regularly delivered to the holder of this information. Information in the CRID shall be delivered to the holder of this information upon his request. Institutions regulated by the Popular Economy Regulator are required to deliver this credit information to the National Payment System.

Companies which extend sales and credit services are also subject to these guidelines. The periodicity with which these companies shall file credit reports falls upon the discretion of the Regulator. Any company deliberately reporting false information shall be sanctioned with a fine of up to fifty basic remuneration units. 

Document Details

Title (Non-English): 
Ley Orgánica Derogatoria a la Ley de Buros de Información Crediticia
Document Type: 
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Date of Document: 
Sunday, January 1, 2012
Document Authors: 
National Assembly of Ecuador
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