Caoimhghín Ó Caoláin (Cavan-Monaghan, Sinn Fein)
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162. To ask the Minister for Finance the actions that will be undertaken by his Department to transpose the EU directive on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features into Irish law; and if he will make a statement on the matter. [1614/15]

Michael Noonan (Limerick City, Fine Gael)
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The Payment Accounts Directive introduces rules on the transparency and comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features. The Payment Accounts Directive was agreed in August 2014.  Member States, including Ireland, are required to transpose the provisions of the Payment Accounts Directive into national law by 18 September 2016. My Department has responsibility for transposing this Directive and is currently planning the work required for transposition including any legislative and regulatory actions that may be required.