Regulatory Alerts2026-08-17
Added · Updated
Financial Supervisory Commission Disposition on Taiwan Cooperative Bank's Deficiencies in Credit Card Disputed Account Operations and Violations of Banking Act and Internal Control Regulations
The Financial Supervisory Commission has imposed a fine of NT$12 million on Taiwan Cooperative Bank Co., Ltd. and ordered a correction for deficiencies in its credit card disputed account operations, which resulted in a loss of approximately NT$101.64 million. The bank is also prohibited from accepting new customers for credit card business for one month, effective the day after the disposition's delivery, with resumption contingent on the Commission's approval of improvements. These measures are due to violations of Article 45-1, Paragraph 1 of the Banking Act and Articles 3, Paragraph 1 and 8, Paragraph 1 of the 'Regulations Governing the Establishment of Internal Control and Audit Systems for Financial Holding Companies and Banking Enterprises'. Payment of the fine is due within 10 days from the day following the disposition's delivery.
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