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 proposal to require banks to pay interest to their customers on credit balances in their checking accounts.
Translated from Hebrew
What does the bill do?
The proposal amends the Banking (Service to Customers) Law in order to add a legal obligation for banking corporations to pay interest on credit balances in a checking account. The minimum interest rate will be set by the Governor of the Bank of Israel in consultation with the advisory committee and with the approval of the Minister of Finance. This proposal is intended to match market conditions in which banks profit from funds deposited in these accounts without paying a return to customers.
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