A post relating to this item from Finextra:
22 October 2010 | 10444 views | 3
The European Central Bank (ECB) says self-regulation on Sepa has not achieved the expected results and is calling on legislators to now set a mandatory migration timeline.
The news that SEPA is going to be forced down the throats of Banks is a very welcome move all be it several years late. Banks anr like Turkeys never voting for Xmas and the embarrasing phoney war that has been waged over SEPA has resulted in an inevitable
regulatory and legal motivation.
Lets hope that any sanctions are pitched at a severe level
I also hope that Banks are forced to engage in a marketing of SEPA to their clients detailing whats on offer and the price. There should be transparancy in pricing
SEPA with its Credit Transfers and Direct Debits has a wide consumer interest and it must be made clear to all in the EU what they should expect their banks to offer. Personally i would name and shame banks that fail to prove they are in compliance with
meeting consumer , corporate and SME requirements
So its never too late and with SEPA getting some baby teeth perhaps we can all move forward