Consumer data right (CDR)

Following the Treasurer’s consent, the Competition and Consumer (Consumer Data Right) Rules 2020 (the Rules) commenced on 6 February 2020. This is a key development in progressing Consumer Data Right.

The Rules set the foundational framework for how Consumer Data Right operates in the banking sector. Under the Rules, the four major banks are required to share product reference data in a standardised format, facilitating better product comparisons.

From July 2020, the major banks must share certain consumer data, such as data relating to credit and debit cards, deposit accounts and transaction accounts, where directed by a consumer to do so. Consumer data relating to mortgages and personal loans must be available to share from November 2020. Sharing consumer data is another key development for Consumer Data Right and will allow consumers to access more personalised and tailored goods and services.

In addition to developing these Rules under the Competition and Consumer Act 2010, the ACCC is responsible for accrediting data recipients, establishing and maintaining the Consumer Data Right Register, and enforcing compliance with the Rules. 

Below you will find the Rules which commenced in February 2020. The Rules have since been amended. You can find announcements of more recent versions of the Rules on our main page or on the Federal Register of Legislation.

Please note that the phasing table below is not current and will be updated in 2021. For more information on the current phasing timeline, please refer to the CDR phasing infographic.