Israeli Lawmaker Demands Halt to Bank of Israel Digital Mail Plan
Translated & summarized from Behadrei Haredim by baba
Member of Knesset Rabbi Yosef Tayeb has demanded the Bank of Israel halt a plan to default to digital notifications for bank customers, warning it could harm the ultra-Orthodox and elderly. He wrote to Governor Amir Yaron and Supervisor Daniel Hachiasvili, requesting the proposal be suspended until the Knesset Economics Committee can discuss it. Tayeb argues that printed mail is essential for many and that the proposed digital shift, even with some exemptions, could cause customers to miss vital financial information. The Bank of Israel's proposal is currently open for public comment.
The story in 5 lines · by baba
- MK Rabbi Yosef Tayeb is demanding the Bank of Israel halt a plan to switch to digital-only bank notifications.
- The reform could negatively impact the ultra-Orthodox community and elderly who rely on printed mail.
- Tayeb argues the change could cause customers to miss critical financial information and lose control of their funds.
- He has requested the proposal be suspended until the Knesset Economics Committee can hold a discussion.
- The Bank of Israel's proposal is currently open for public comment until November 15th.
Member of Knesset Rabbi Yosef Tayeb has urgently called on the Bank of Israel and its Governor, Professor Amir Yaron, to halt a proposed reform that would change the default method for sending bank notifications to customers. The plan, promoted by the Bank's Supervisor of Banks Daniel Hachiasvili, would allow banks to send crucial financial information, such as account alerts and debit notices, via digital channels instead of traditional mail, without explicit customer consent. Tayeb warns that this shift could severely impact the ultra-Orthodox community, the elderly, and other groups less accustomed to digital technology, potentially causing them to miss critical financial updates and lose the ability to protect their funds.
Tayeb expressed his concerns in a letter to Governor Yaron and Supervisor Hachiasvili, demanding the program's suspension until a renewed discussion can be held in the Knesset's Economics Committee. He argues that for many, printed mail is not a luxury but an essential service for monitoring their finances. While the Bank of Israel's draft proposal includes some safeguards, such as exempting customers aged 70 and over and those inactive online for the past year, Tayeb contends these are insufficient. He believes that past online activity does not guarantee a customer's ability to track important bank messages digitally, and stopping printed mail without explicit consent could still lead to missed information.
Furthermore, Tayeb highlighted that this issue was previously discussed in the outgoing Knesset's Economics Committee on January 26th, where a decision was made to form a dedicated team to examine the matter with the Bank of Israel and the banking association. He recalled that the then-committee chairman, MK David Bitan, had stated that the change in mailing format should not be advanced at that stage, and the Bank of Israel had reportedly agreed not to proceed without committee consensus. Tayeb finds the current publication of the draft proposal, before the new committee has convened, particularly problematic and is demanding an immediate freeze on the review process and an urgent discussion in the new Economics Committee.
The Bank of Israel's proposal is currently open for public comment until next Wednesday, November 15th. The reform has not yet taken effect.
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