Regulatory Alerts2015-04-22 | JB-2015-3373Resolution JB-2015-3373 of the Banking Board of Ecuador
The Banking Board of Ecuador issued Resolution JB-2015-3373 to reject the administrative review appeal filed by Diners Club del Ecuador S.A. regarding a consumer complaint about unauthorized credit card transactions. The Board confirmed the previous order requiring Diners Club to refund USD 975.65 to the cardholder, Shirley Karla Capelo Hidalgo, due to the institution's failure to enforce secure purchase procedures and verify merchant compliance. This decision upholds the finding that the financial institution did not adequately investigate signature discrepancies or ensure merchants followed identification protocols before processing the disputed charges.
Share