Banks Supervisor to recommend bank fees control.

(From Israel Business Arena)

Byline: Zvi Lavi

Supervisor of Banks Yoav Lehman told a Knesset Economics Committee hearing on the harm to consumers from the absence of competition in bank fees today that he would recommend that the prices committee control bank fees. He called on bank customers to be alert and bargain over the per transaction fees.

Lehman told MKs who called on him to impose controls on bank fees that they should regulate this authority by legislation. The Bank of Israel would then establish a prices committee. "I am not responsible for every annoying thing in the banking system. There is competition in some areas, but very low …