Money Talks Knesset Scuttles Bank Fee Ban
On Monday the Knesset’s Legislative Commission voted to reject a bill to cancel checking account fees which were stated to be exorbitant and fixed due to lack of competition.
The Organization of Banks immediately welcomed the decision saying “the Israeli banking service consumer enjoys low costs (about 18 shekels a month, according to the Bank of Israel) lower than the global average, and intervention through legislation in this area was unnecessary to start with.
