Regulatory Alerts2015-04-15 | JB-2015-3352Resolution No. JB-2015-3352 of the Banking Board
The Banking Board of Ecuador issued Resolution No. JB-2015-3352 to reject the administrative review appeal filed by Banco Pichincha C.A. regarding a disputed credit card transaction. The Board confirmed the lower authority's ruling that the bank failed to comply with regulatory requirements for verifying customer identity and retaining transaction documentation. Consequently, the bank is ordered to refund USD 180.00 to the cardholder, Christian Eduardo Matamoros Jouvin, for an unauthorized charge.
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