Regulatory Alerts2015-05-20 | JB-2015-3432Banking Board Resolution JB-2015-3432
The Banking Board of Ecuador confirmed the rejection of a review appeal filed by Banco Pichincha C.A. regarding a customer's claim for unauthorized withdrawals. The Board ruled that the bank failed to comply with its internal withdrawal instructions by accepting signatures that did not match the registered signature on file. Consequently, the resolution orders the bank to refund USD 2,932.00 to the customer, Priscila Jazmín Cajas Freire, within eight days.
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