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ARTICLE · 14 JANUARY 2020

Australian Government Delays Implementation Of Open Banking After Facing Practical Issues With The New Consumer Data Right

In 2019, the Australian Government passed new laws to provide new rights for consumers and small businesses to their data from July 2019.

AustraliaFinance and Banking

Introduction to Open Banking

In 2019, the Australian Government passed new laws to provide new rights for consumers and small businesses to their data from July 2019. We summarised the background on the new laws in our alert on 14 December 2018: Australian Consumer Data Right law: what you need to know and we explained their impact in our alert on 8 August 2019: Australian Government passes Consumer Data Right legislation on 1 August 2019.

Our August 2019 alert provided you with an outline of the timetable for the commencement of the regime. This alert updates you on that, as there is now a delay to some parts of the regime which had originally been planned to go live on 1 February 2020.

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