Ministers don’t support bank-fees bill

The bill, submitted by freshman Likud MKs Danny Danon and Carmel Shama, would cancel 13 basic charges that are currently levied on private customers.

bank fee biz 88 224 (photo credit: Ariel Jerozolimski)
bank fee biz 88 224
(photo credit: Ariel Jerozolimski)

Despite the fervent support of the Israel Consumers’ Council and many bank customers for a bill that would cancel bank fees, the Ministerial Committee for Legislation was poised Monday to oppose the proposed legislation.  
The bill, submitted by freshman Likud MKs Danny Danon and Carmel Shama, would cancel 13 basic charges that are currently levied on private customers.
In light of the pair’s inability to find a majority among ministers, Shama has begun to seek a compromise plan together with bank representatives.
The original bill would maintain special charges, but would minimizecharges on checking accounts, including fees for cash withdrawals,regardless if made by ATM or through bank tellers.
The Bank of Israel opposes the proposal, arguing that it wouldnegatively impact weaker consumers, the opposite effect of what the MKsintended.