Bank Hapoalim 311.
(photo credit: Ariel Jerozolimski )
The Bank of Israel on Tuesday imposed a financial sanction of NIS 600,000 on
Bank Hapoalim for charging fees for closing accounts and transferring activity
that cannot be found in its full fee schedule.
The Banks Supervision
Department imposed the sanctions after it found that Hapoalim customers were
charged these fees over the past seven years. According to the findings, the
total amount of the refunds for these accounts is about NIS 5 million. The
central bank said it was working to identify the customers who are entitled to a
In response, a Bank Hapoalim spokeswoman said the bank had done
everything the central bank required of it, including returning funds to
The Bank of Israel said Hapoalim had taken steps to prevent a
recurrence of the deficiencies.
Meanwhile, the central bank said it also
imposed a civil fine of NIS 112,950 on Israel Discount Bank in December 2011 for
the holding of a 25 percent share in the means of control in a nonfinancial
corporation, as defined by law. According to the Bank of Israel, this is higher
than the maximum 20% share for such a holding, as set in the Banking (Licensing)