The Payments Council has responded to the European Central Bank’s consultation on recommendations for payment account access services (PAAS). It strongly supports regulation of PAAS and believes regulation can help legislators establish the rights and responsibilities of the parties in a payment chain. It cautions that the recommendations must be assessed against other relevant EU measures, such as those on money laundering and data protection, and says the provisions on protection of personal security credentials need further review. (Source: Payments Council Response on PAAS)