He National Institute for the Defense of Competition and the Protection of Intellectual Property (Indecopi) has sanctioned the Banco de Crédito del Perú (BCP) with a fine of 11.60 UIT, an amount equivalent to S/59,740. The measure was taken after it was determined that the bank closed a client’s savings account without following the established procedure, failing to comply with the obligation to notify the account holder in advance.
According to the official statement of IndecopiBCP’s action violated consumer rights by not providing timely communication about account closure, which is an essential requirement to guarantee transparency and trust in the financial system.
The investigation began after the complaint of customer affected, who reported that his account was closed without prior notice, leaving him in a situation of uncertainty regarding the funds deposited. Indecopi, in its role as consumer advocate, evaluated the case and verified that the BCP did not comply with current regulations, which require prior written notification before closing a bank account.
Indecopi sanctions BCP: procedure and findings
During the investigation process, Indecopi reviewed the applicable regulations and found that BCP not only failed to notify the client, but also failed to provide adequate justification for closing the account. This procedure is contrary to what is stipulated in the Consumer Protection and Defense Codewhich establishes that financial institutions must act with diligence and transparency in their operations.
Indecopi highlighted that prior notification is essential so that clients can take the necessary measures to protect their interests, including the transfer of their funds to other accounts or the resolution of possible problems that may have led to the closure.
What is the position of the BCP?
In response, the BCP has accepted the sanction and has stated that it will review its internal procedures to ensure compliance with regulations and prevent similar situations from occurring in the future. The bank has also committed to improving its communication mechanisms with customers to ensure greater transparency and trust.
The main objective of the fine of S/60,000 imposed on BCP is to sanction the violation and prevent future similar conduct by financial entities. In addition, it seeks to send a clear message about the importance of respecting consumer rights and following established procedures.
What does the ruling say?
Likewise, the ruling indicates that the entity must pay the affected client not only the amount they had in their account at the time the events occurred, but also the interest generated.
“To order the Bank, as a corrective measure, to comply with returning to Mr. Puentes the sum of US$5,651.99 within a period of no more than 15 business days, counted from the day following notification of said resolution. which it had in its Dollar Savings Account No. 191- ********-1-14 as of March 5, 2021, the date on which the financial institution closed the aforementioned account improperly, owing include the interest generated from the closing of the account to the date of compliance with the mandate,” the resolution states.
Importance of transparency in the banking sector
The case of account closure without notification highlights the need for financial institutions to maintain clear and direct communication with their clients. Transparency and compliance with established procedures are essential pillars to ensure that consumers trust the banking system and feel that their rights are respected and protected.
Indecopi will continue to monitor compliance with consumer protection regulations in the banking sector and will take the necessary actions to sanction any non-compliance that affects user rights. The entity reaffirms its commitment to ensuring a fair and transparent market, where abusive practices have no place.
How many locations does Banco de Crédito del Perú have nationwide?
According to its own website, the renowned Peruvian bank has 375 agencies nationwide. In addition, it has more than 1,800 ATMs and 5,600 independent agents.
Source: Larepublica
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