The Council of the EU has published an “I/A” item note which contains criticisms from the European Commission on the proposed Payments Accounts Directive (PAD) on which political agreement was reached in March 2014 and which the European Parliament voted to adopt in April 2014.
Among its concerns the Commission considers that the introduction of a longer implementation period for Member States to adopt the common format and symbol of the fee information document and statement of fees where the equivalents of these documents already exist at national level, introduces an unjustified difference in the treatment between Member States.
