Regulatory Alerts2015-04-01 | JB-2015-3324Resolution No. JB-2015-3324 of the Banking Board
The Banking Board of Ecuador issued Resolution No. JB-2015-3324 to reject the review appeal filed by Banco Pichincha C.A. against administrative acts ordering the bank to comply with previous resolutions regarding customer complaints. The Board affirmed that administrative acts must be executed immediately, regardless of pending judicial challenges, citing Article 76 of the Contencioso Administrativo Jurisdiction Law. Consequently, the resolution confirmed the prior rejection of the repossession appeal and mandated the bank's compliance with Resolution No. JB-2014-2776.
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