Regulatory Alerts2015-04-30 | JB-2015-3395Added · Updated
Resolution No. JB-2015-3395 of the Banking Board of Ecuador
The Banking Board of Ecuador rejected the appeal filed by Banco Pichincha C.A. and ratified Resolution No. JB-2014-2861, which ordered the bank to fully refund unauthorized charges to customer David Segovia Naranjo. The Board found that the bank improperly transferred disputed transaction values from one credit card to another without valid supporting documentation, violating user rights regulations. This decision confirms the customer's right to have the institution reject and refund products or charges not expressly requested or supported by proper vouchers.
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