Consumer Data Right (Banking) update

The Competition and Consumer (External Dispute Resolution Scheme–Banking Sector) Instrument 2019 has been registered. This instrument recognises the Australian Financial Complaints Authority as the external dispute resolution scheme for the consumer data right in the banking sector.

The ACCC has announced the participants in the testing of the Consumer Data Right (CDR) ecosystem in the run-up to launch in February 2020

The ACCC’s intention is that participants in testing will be ready to participate in the CDR ecosystem from February 2020 following successful progression through testing, demonstrating their ongoing capacity to meet eligibility criteria and comply with the Rules. Participation in the CDR ecosystem from February 2020 as an accredited person requires the person to achieve accreditation under the Rules.


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