The ACCC is seeking views from industry on our proposed revised timetable for the commencement of consumer data sharing by the non-major Authorised Deposit-taking Institutions (ADIs) under the Consumer Data Right (CDR) regime.
Under the proposal, mandatory consumer data sharing obligations for non-major ADIs commence on 1 July 2021 for all product phases (that is, phase 1, 2 and 3 products). The revised timetable also allows additional time for the commencement of direct to consumer data sharing.
The proposed timetable follows our announcement to the update to the CDR timeline made on 20 December 2019, which included changes to mandatory consumer data sharing obligations for the major banks.
Feedback on the proposed timetable can be provided via our consultation hub before Friday 21 February 2020. Survey responses will not be published by the ACCC.