חוק הבנקאות (שירות ללקוח) (תיקון מס' 34), התשפ"ב-2022Law on Banking (Customer Service) (Amendment No. 34), 2022 · automatic translation · suggest a correction

Official summary of the law (Knesset)

The Law establishes various legislative amendments according to which a banking corporation, insurer, provident fund, or company managing provident funds, and a holder of a license for extending credit or a holder of a license for providing deposit and credit services, will be able to charge a fee of up to 360 new shekels for handling a request for a housing loan (hereinafter – the fee). The legislative amendments establish a standard linkage mechanism, according to which the fee will be linked to the consumer price index published by the Central Bureau of Statistics on 1 January each year, and they establish authority to impose a financial sanction on an entity that charges a customer a higher fee. In addition, the wording of the mandatory warning at the time of advertising a loan was amended, whose wording was "Failure to meet loan repayment may result in liability for default interest and enforcement proceedings." The word "may" (masculine form) was replaced with the feminine form of the word "may." The Law will come into effect within two months from the date of publication (publication date: 22 June 2022), and will apply to requests for housing loans submitted from the effective date onward.

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