The ACCC has released for consultation Consumer Data Right (CDR) draft rules which cover issues central to the implementation of CDR in banking from 1 July 2019.
Background.
Initially, these rules will apply only in relation to certain products that are offered by certain data holders within the banking sector. These rules will then apply to a progressively broader range of data holders and products.
There are 3 ways to request CDR data under the rules.
Product data requests
Any person may request a data holder to disclose CDR data that relates to products offered by the data holder. Such a request is called a product data request.
A product data request is made in accordance with relevant data standards, using a specialised service provided by the data holder. Such a request cannot be made for CDR data that relates to a particular identifiable CDR consumer. The data is disclosed, in machine-readable form, to the person who made the request. The data can be used by that person as they see fit.
Consumer data requests made by CDR consumers
A CDR consumer may directly request a data holder to disclose CDR data that relates to them. Such a request is called a consumer data request. A consumer data request that is made directly to a data holder is made using a specialised online service provided by the data holder. The data is disclosed, in human-readable form, to the CDR consumer who made the request. The data can be used by the CDR consumer as they see fit.
Consumer data requests made on behalf of CDR consumers
A CDR consumer may request an accredited person to request a data holder to disclose CDR data that relates to the consumer. The request made by the accredited person is called a consumer data request.
A consumer data request that is made on behalf of a CDR consumer by an accredited person is made in accordance with relevant data standards, using a specialised service provided by the data holder. The data is disclosed, in machine-readable form, to the accredited person.
The accredited person may only collect and use CDR data in order to provide goods or services under a CDR contract with the CDR consumer.
