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In this report we profile the various approaches being taken to facilitate open banking, from emerging regimes to those already in operation.
In May 2018, the Australian Government announced that it would legislate a Consumer Data Right to allow consumers to harness the power of their data and provide consumers with greater control over their data.
Our key takeaways:
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This article first appeared in the LexisNexis Privacy Law Bulletin - Volume 15 (6).
Date of publication: 10 August 2018
Disclaimer: Since the date of publication of this article, the Government has released the exposure draft of the Consumer Data Right enabling legislation and other ancillary information. Please contact us if you would like the latest information.