CDR options expanded
The ACCC says it has made some important amendments to the Consumer Data Right Rules.
The new rules expand the types of consumers who can use the Consumer Data Right (CDR), allowing more business customers to get involved.
The changes mean that from November 2021, the major banks can enable customers to share their data with accredited data recipients when shopping around for better services.
“This significant package of amendments is designed to encourage participation in the Consumer Data Right by expanding its benefits to more businesses, including companies and partnerships,” ACCC Commissioner Sarah Court said.
The new rules also include provisions that could improve the consumer experience and provide greater flexibility for participants’ business models.
“The new rules lay the foundation for the continued expansion of the Consumer Data Right in 2021, following the successful start of consumer data sharing in 2020,” Ms Court said.
“The rules will encourage increased participation in the Consumer Data Right, and new service offerings for consumers, while also ensuring that strong consumer protections continue to apply.”
The new version of the Consumer Data Right rules can be found on the Federal Register of Legislation website.