Consumer Data Right



CDR design – complete documentation as at June 2020


On 20 July 2017, the Treasurer the Hon Scott Morrison MP commissioned the Review into Open Banking in Australia (the Review), chaired by Mr Scott Farrell, to recommend the most appropriate model for Open Banking in Australia. Since then, the Government has decided to legislate a Consumer Data Right to give Australians greater control over their data, empowering customers to choose to share their data with trusted recipients only for the purposes that they have authorised. The Right will be implemented initially in the banking (Open Banking), energy, and telecommunications sectors, and then rolled out economy-wide on a sector-by-sector basis. The Treasurer will be leading the development of the Consumer Data Right, with the design of the broader Right informed by the recommendations of the Review. Before making final decisions on implementation, the Government released the Report of the Review into Open Banking in Australia on 9 February 2018 for public comment on the Review's recommendations. The Government received and considered detailed comments from 74 submissions, 67 of which were publicly released and are now available on the Treasury website.

Government Response to Review into Open Banking

On 9 May 2018, the Government agreed to the recommendations of the Review, both for the framework of the overarching Consumer Data Right and for the application of the right to Open Banking will be implemented iteratively.

The big four banks commenced publicly sharing product information about credit and debit card, deposit account and transaction accounts in 2019. From 1 February 2020 they will be required to commence sharing product information about mortgage and personal loan products. Minor banks will begin sharing product data from July 2020, with a 12 month delay for each phase compared to larger banks.

The big four banks will be legally required to make consumer usage data available to consumers on credit and debit card, deposit and transaction accounts from July 2020, followed by mortgage and personal loan data from November 2020. The Australian Competition and Consumer Commission (ACCC) will consult with major and minor banks on timing of later phases, including options to tranche implementation by size and shared software providers.

Energy sector

Consultation on the draft designation instrument to extend the CDR to the energy sector has closed. The final version of the designation instrument came into effect on 30 June 2020.

The extension of the Consumer Data Right to the energy sector will establish a framework to improve competition and innovation in the energy sector.

For further queries or comments on either the Consumer Data Right or Open Banking, please contact

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