Regulatory Alerts2025-11-30
Added
Provision of a professional human telephone response
This directive requires banking corporations, as defined in the Banking (Service to the Customer) Law, 5741-1981, to provide a professional human telephone response during core hours for specified services and 24x7x365 for suspected fraud in payment services and abuse notifications. It mandates prioritizing calls from senior citizens (70 years or older) for human responses and fraud-related calls. Banking corporations must adhere to specific hold time thresholds for general service calls, choosing between two options, and ensure fraud-related calls do not exceed a six-minute wait time, with provisions for longer waits. Additionally, they must collect and monitor data on response patterns and hold times, and provide periodic reports to management.