The Council of the EU has published an information note from the General Secretariat of the Council to the Permanent Representatives Committee concerning the outcome of the European Parliament’s first reading of the proposed Payments Account Directive (PAD).

The note states that the Parliament’s first reading position reflects what had been previously agreed between the institutions and that the Council should therefore be in a position to approve the Parliament’s position. The PAD can then be formally adopted using the wording corresponding to the Parliament’s position.

View Proposal for a Directive of the European Parliament and of the Council on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features – outcome of the European Parliament’s first reading, 22 April 2014