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Israeli Banks Are Rating Us, and Most of Us Don't Even Know About It

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It has been more than a year since the implementation of one of the biggest social and economic changes in Israel, and most Israelis still have no clue about how this is supposed to affect their future – whether it’s under their control or not. The establishment of the credit information database at the Bank of Israel, along with the credit rating of every one of us, flew relatively quietly under the radar of public discourse, in a period when the endless rounds of elections and a worldwide pandemic took up most of our attention.

Supposedly, in a country where accumulation of debts and bank accounts in the red have become routine parts of life, there is a lot of sense to a process to incentivize borrowers (to repay and on time) and lenders (to offer attractive interest rates). However, at a time when it hasn’t yet been proven that these advantages are materializing as promised, not enough has been done to raise awareness of........

© Haaretz

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