The European Commission has published a report on the EU Member States’ implementation of the Regulation on cross-border Euro payments. The report concludes that the Regulation has triggered a decrease in fees for cross-border credit transfers and prompted financial institutions to create the Single Euro Payments Area. It recommends that a number of improvements be made to the current regime, in particular: (i) the scope of the Regulation should be extended to direct debits; and (ii) out-of-court redress procedures should be set up by all Member States to protect consumer rights. The report also encourages financial institutions to provide consumers with clear, transparent and easily comparable information on their payment services. A legislative proposal to amend the Regulation could be expected in autumn 2008 following an impact assessment and public consultation.