Regulatory Alerts2015-06-17 | JB-2015-3483Resolution No. JB-2015-3483 of the Banking Board of Ecuador
The Banking Board of Ecuador issued Resolution No. JB-2015-3483 to review a dispute between user Francisco Xavier Gutiérrez Gutiérrez and Banco Pichincha C.A. regarding unauthorized withdrawals from his savings account. The Board upheld the previous administrative decision ordering the bank to refund USD 1,850.00 due to significant discrepancies in the signatures on withdrawal slips, while explicitly excluding a USD 500 withdrawal from September 9, 2013, from the refund amount as it was not previously analyzed. This resolution confirms that the bank failed to follow its own internal instructions for verifying customer signatures, thereby causing economic harm to the claimant.
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