The competition watchdog will lose most of its oversight powers for the Consumer Data Right with the federal government to bring decision-making powers in-house for the scheme under draft...
Consumer Data Right
Posted on
| by David McClure
Australia’s consumer data right legislation doesn’t just exist to open up the banking sector, it’s for making the product matching and switching process much easier in an increasingly wide...
Posted on
| by Denham Sadler
Australia’s Consumer Data Right scheme has received a further $20 million after the opening banking regime’s slow start this month, with only one FinTech signed up as a data...
Posted on
| by Ross Sharrott
The delay to allowing data intermediaries to fully participate in the Consumer Data Right (CDR) will significantly curtail the effectiveness of open banking in Australia and the creation of...
Posted on
| by Denham Sadler
The privacy and competition watchdogs have outlined how they plan to enforce the rules and laws surrounding the Consumer Data Right, which will be launched into the banking sector...
Posted on
| by Kristofer Rogers
At the recent AFR banking and wealth conference, held as a virtual event during these unprecedented times, ACCC chairman Rod Sims reasserted a commitment to keeping the July 1...
Posted on
| by Denham Sadler
The decision to delay the landmark Parliamentary inquiry into FinTech and reopen submission to address COVID-19 is “dangerous” and risks taking the momentum out of the government’s response to...
Posted on
| by James Riley
There has never been a more important time to expedite digital innovation across the economy according to competition tsar chief Rod Sims, who says the ACCC will keep its...
Posted on
| by Denham Sadler
The landmark Parliamentary inquiry into the FinTech sector has again descended into a feud over the controversial practice of screen scraping, much to the chagrin of FinTech Australia. Screen...
Posted on
| by Denham Sadler
A new government inquiry looking at expanding the Consumer Data Right before the scheme had actually launched is “premature”, according to the Financial Rights Legal Centre. Treasurer Josh Frydenberg...
Posted on
| by Denham Sadler
The federal government should provide financial support to startups and small businesses looking to meet the “rigorous” open banking privacy and security rules, according to former special adviser to...
Posted on
| by James Riley
It was a case of history repeating itself in the dying days of 2019, as a delay to the launch of open banking was announced on the last Friday...