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A class action against the banks was rejected : they can benefit from foreign currency exchange rates

The Tel Aviv District Court rejected one of the largest class actions filed against the banks, and ruled that the banks were allowed to benefit from the profits of foreign currency conversions, a claim that was filed against four defendants, headed by the banks and credit card companies. The lawsuit was filed before 4.5 years for the astronomical sum of $ NIS 13 billion.

Adv.  Sharon Lubezky Hess, Partner, and Adv. Shahar Haron represented Bank Leumi, Mizrahi Tefahot and Union bank. 

For an article in Globes click here

For the article in TheMarker click here