Government Response to the Inquiry into Future Directions for the Consumer Data Right

On 14 December 2021, the Government released its response to the Final Report of the Inquiry into Future Directions for the Consumer Data Right (the Inquiry) following extensive targeted engagement with interested parties. The Government’s response commits to significantly strengthen and deepen the Consumer Data Right’s (CDR) functionality and use through the implementation of third-party action and payment initiation reforms, along with other recommended reforms that will grow the CDR ecosystem and foster greater international engagement. This will expand the CDR beyond a data portability framework, with a capability akin to a digital power-of-attorney.