Bank Hapoalim and Bank Leumi will each pay a fine of NIS 1 million, and Isracard will pay a fine of NIS 250,000, the Bank of Israel announced. This comes as part of financial sanctions against banks due to service disruptions and consumer issues, which were investigated by undercover Bank of Israel officials.
Advocating for fairness in Israeli banking
The supervisor of the banks, Daniel Hahiashvili, said that he “sees the fairness of the banking system in its conduct with its customers as a central value. We see the utmost importance in compliance with consumer protection laws with an emphasis on professional, accessible, and quality service to customers in all banking service channels. We will continue to work with the range of tools at our disposal to enforce regulations on various consumer issues, as part of our efforts to ensure a fair organizational culture within the banking system.”
