Regulatory Alerts2015-05-08 | JB-2015-3397Banking Board Resolution JB-2015-3397
The Banking Board of Ecuador rejected an administrative review filed by Banco Internacional S.A. regarding a customer complaint about unjustified check protests. The Board confirmed that the bank failed to notify the account holder of a signature disqualification as required by law, thereby causing the incorrect application of fines. Consequently, the bank is ordered to refund US$5,863.33 to the customer and correct the credit records by removing the protests for the affected checks.
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