Australia’s Consumer Data Right becomes law

Posted by Toronto Finance International on Sep 27, 2019 10:57:48 AM

Written by Scott Farrell - Senior Partner at King & Wood Mallesons, Co-chair of the Australian Government's FinTech Advisory Group and Leader of the Australian Government’s review into Open Banking

The law to establish the Consumer Data Right (CDR) has been passed by the Australian Parliament.  The way is now clear for Open Banking to start in Australia, as the first implementation of the CDR.  After so much work has gone into the development of CDR and Open Banking, Australian customers will soon have the right to ask for their data to be shared with others they choose to trust. 

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Topics: Australia, Open Banking

 

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