Banking Law (Customer Service) (Amendment – Interest on a Credit Balance) Bill
Translated from Hebrew: הצעת חוק הבנקאות (שירות ללקוח) (תיקון - ריבית על יתרת זכות)
TL;DRA bill to require banks to pay customers interest on credit balances in current accounts, at a minimum rate to be set by the Governor of the Bank of Israel.
Translated from Hebrew
What does the bill do?
The bill amends the Banking (Customer Service) Law to require banking corporations to pay their customers interest on credit balances in current accounts. The minimum interest rate will be set by the Governor of the Bank of Israel with the approval of the Minister of Finance. The bill argues that banks currently enjoy risk-free profits from using these balances, while their customers suffer losses due to inflation and the erosion of the value of money.
The votes on this bill
Coalition 62 seats
Left the coalition 14 seats
Opposition 44 seats
Tap an MK for detailsChanged position between readingsOnly MKs who held a seat on the day of the vote are shown