Regulatory Alerts2015-06-17 | JB-2015-3492Resolution No. JB-2015-3492 of the Banking Board of Ecuador
The Banking Board of Ecuador issued Resolution No. JB-2015-3492 to reject a review appeal filed by Cristóbal Colón García Espinoza against Diners Club del Ecuador S.A. regarding disputed credit card transactions from 2003. The Board confirmed the previous administrative act that dismissed the consumer's complaint, ruling that the debt was validly recognized through a 2004 restructuring agreement and promissory note. The decision further noted that the financial institution was not legally required to provide transaction support documents due to the expiration of the statutory retention period.
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