Dear <<First Name>>,
Thank you for your continued interest in the Consumer Data Right (CDR).
The ACCC has now published a lock-down version of the CDR Rules and accompanying Explanatory Statement on our website at: CDR Rules (banking).
These rules cover the foundational rules required to implement the CDR in the banking sector, following consultation and feedback received by the ACCC on the draft CDR Rules released on 28 March 2019.
The publication of the rules to key stakeholders on 31 August represents an important milestone towards the implementation of the CDR. The rules reflect a responsible approach to commencing CDR in February 2020, which will incrementally scale up with further functionality over time.
The ACCC expects the four major banks to continue to work on the products identified for February 2020 commencement of the CDR in banking, placing a priority on deposit and transaction account and credit card data to be available from day one. Other products, including mortgages and joint accounts, will become available no later than July 2020.
The phased commencement to the sharing of product reference data and consumer data as provided for in Schedule 3, Part 6 of the CDR Rules, is summarised in the phasing table.
The ACCC expects that additional functionality, such as the introduction of different tiers of accreditation, will be provided in future versions of the CDR Rules and as additional sectors of the economy are designated.
Kind regards,
Consumer Data Right Branch
Australian Competition and Consumer Commission (ACCC)