Luis Álvarez Renta appointment as part of his retirement, in order to effect positive change for the country by helping it negotiate a Free Trade Agreement with the European Union. However, after Governor José Lois Malkún of the Central Bank of the Dominican Republic’s announcement that Álvarez Renta was involved in the Baninter debacle, Álvarez Renta resigned the post in order to avoid a dispute between President Mejia and his advisors. In response to the announcement, Álvarez Renta took out full-page advertisements in the press, in which he declared he was innocent of all the charges made by the Central Bank. He also
Oscar de la Renta served as a board member of the Metropolitan Opera, Carnegie Hall and WNET. He served on the boards of several charitable institutions such as New Yorkers for Children, the America's Society. He was chairman of the Queen Sofía Spanish Institute. He received an honorary degree from Hamilton College (New York) on 26 May 2013. In February 2014, Oscar de la Renta recreated his entire Spring presentation, "Designed for A Cure 2014 collection", to raise money for the Sylvester Comprehensive Cancer Center at the University of Miami Leonard M. Miller School of Medicine. In 2014, de la Renta was the recipient