On August 20, 2026, the Financial and Monetary Policy and Regulation Board (JPRFM) approved an update to the secondary regulations governing the credit data records system in Ecuador. This adjustment establishes new deadlines for the retention and reporting of individuals’ credit information, strengthens the protection of personal data, and defines rules for incorporating new information sources.

Previously, in 2025, Articles 357 and 358 of the Organic Monetary and Financial Code (COMF) were amended to update provisions related to sources of credit information, the use of supplementary information for credit analysis, and the deadlines for data retention and reporting.

Following these reforms, a need was identified to harmonize the existing secondary regulations with the new legal framework, particularly regarding the definition and types of information sources, the length of time data must be retained, and the scope of credit reports. To address these gaps, in addition to a legal and technical review of the proposed new information sources, technical working sessions were held with the Superintendency of Banks; the Superintendency of Companies, Securities, and Insurance; and credit information bureaus.

As a result, a regulatory proposal was developed to update and align the provisions of the credit data records system with the COMF, with an emphasis on legal certainty, personal data protection, and the quality of information used to assess credit risk.

Among the main changes is a reduction in the credit information retention period from six to four years, as well as a reduction in the period of operations considered in credit reports, from three to two years. The proposal also establishes criteria for incorporating future sources of credit information and provides for gradual implementation coordinated with oversight bodies.

The regulation does not enable automatic access to new databases, does not lift legal confidentiality protections, and does not by itself create obligations for public or private entities to disclose information. Nor does it authorize indiscriminate access to sensitive or protected data.

With this decision, the JPRFM seeks to provide the credit reference system with rules that are clear and consistent with the current legal framework, improve the quality of information used to assess credit risk, and, at the same time, strengthen legal certainty and the protection of personal data.

Please review the Resolution at the following link: https://bit.ly/4qvG0Gf

Strategic Communications Sub-Directorate – Directorate of Financial and Monetary Sector Stability