The Albanese Government is committed to helping Australians better manage rising costs.
Consumers and small businesses deserve to have their data working for them, safely and securely, to get the best deals.
That’s why the Government has introduced legislation in the Parliament to expand the functionality of the Consumer Data Right (CDR).
The legislation will enable Australian consumers and small business to safely and conveniently instruct accredited third parties to initiate CDR‑powered actions with their consent and on their behalf.
Accredited third parties may include, for example, providers of financial management and product comparison services.
By choosing to securely share their data with these services, consumers and small businesses can save money and time.
Consumers could do things like initiate regular payments towards savings or investment goals, automatically move funds to optimise interest or minimise fees from their financial services provider, or find and switch to a utility plan better suited to their circumstances.
The CDR is already providing benefits to Australians by giving them the ability to safely share the data businesses hold about them for their own benefit.
This legislation will power‑up the CDR to bring even bigger benefits to those who chose to use it.
This legislation forms part of the Government’s commitment to expand the CDR across the economy.
/who-office-at-the-united-nations-(wun)/un-sc-dg.tmb-768v.jpg?sfvrsn=6720f3fc_1)
