Australian Treasury Proposes New Consumer Data Right Rules for Non-Bank Lenders
By: Daniel Knight, Simon Kiburg, Hugo Chow and Madison Jeffreys
The Australian Treasury released an Exposure Draft on 26 November 2024 (Amending Rules) proposing amendments to the Competition and Consumer (Consumer Data Right) Rules 2020 (CDR Rules). Whilst the government designated the non-bank lending sector as subject to the CDR regime on 21 November 2022 and had released draft rules for consultation last year, the new proposed Amending Rules have taken into account stakeholder feedback and reflects the government’s recent ‘reset’ of the CDR regime.
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