The Supervisor of Banks at the Bank of Israel has imposed fined Israel Discount Bank three quarters of a million shekels and Leumi Card twice as much for failing to include the warning "Failure to meet the loan repayment schedule is liable to lead to interest in arrears and collection proceedings," in their loan advertisements.
The applicable law is intended to cause consumers, not all of whom have financial knowledge and understanding, to consider their ability to repay the loan and to increase awareness of the economic consequences of non-compliance with the loan repayment. The fines are for one ad by Discount and two ads by Leumi Card. The Bank of Israel acknowledged that the two banks took corrective steps.