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ARTICLE · 27 OCTOBER 2018

Consumer Data Right (CDR): Are we heading in the right direction?

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The CDR regime will first be implemented in the banking sector, and then will be rolled out to other industry sectors.

AustraliaPrivacy
Angela Flannery
Angela Flannery
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The introduction of 'open banking', that is, the Consumer Data Right (CDR) regime applicable in the banking sector, was announced as part of the 2017-18 Australian Government budget.

The Australian Government then committed to rolling out the new CDR regime in the banking, energy and telecommunications sectors in November 2017. It confirmed that commitment in May 2018, when it released its full response to the Productivity Commission's report of its Inquiry into Data Availability and Use and its response to the Review into Open Banking in Australia 2017.

The Government has foreshadowed that this legislative right may be rolled out in other sectors over time, as recommended in the Productivity Commission's report.

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