Regulatory Alerts2015-06-24 | JB-2015-3495Resolution No. JB-2015-3495 of the Banking Board
The Banking Board of Ecuador rejected a review appeal filed by Carlos Díaz Guzmán against a regional decision that had denied his complaint regarding Banco Bolivariano S.A.'s refusal to certify a check. The Board determined that the bank acted within legal norms by refusing certification because the presenter was neither the drawer nor the beneficiary and could not verify the account holder's authorization. Consequently, the Board ratified the original administrative act and declined to impose any sanctions on the bank.
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