11:16
Reported

News Brief

  3/13/2012, Adar 19, 5772

Two Banks Fined for Improper Practices


The Bank of Israel announced, Tuesday, that it imposed a financial sanction of 600,000 shekels on Bank Hapoalim for collecting fees for closing and transferring accounts that were not in accordance with its fee schedule. The overcharging was discovered during an audit and amounted to about five million shekels over a period of seven years. The bank is making efforts to reimburse the affected customers and is taking steps to prevent a recurrence of the problem.

A civil fine of 112,950 was imposed, in December, on Israel Discount Bank for holding 25-percent control in a company, five percent more than allowed. The bank corrected the matter as soon as it was brought to its attention.