Regulatory Alerts2015-04-01 | JB-2015-3328Resolution No. JB-2015-3328 of the Banking Board of Ecuador
The Banking Board of Ecuador issued Resolution No. JB-2015-3328 to reject an administrative review appeal filed by lawyer Esteban Ortiz Dávila regarding debt collection practices by Banco Pichincha. The Board confirmed that the bank did not violate banking secrecy laws because the information involved active operations rather than deposits, and the collection activities were conducted by an external third-party agency. Consequently, the resolution upholds the previous administrative acts that denied the user's complaint and imposed no sanctions on the financial institution.
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