Australia’s consumer data sharing regime will be simplified in a bid to reduce compliance costs for banks and energy providers while lifting uptake among consumers, under a series of reforms proposed by the federal government.
The proposed changes confirm that the expansion of the consumer data right (CDR) will resume from mid-2026, with non-bank lenders the first new sector to be brought into the scheme.
But a ban on screen scraping – a practice that involves customers giving up their bank account log-in details and passwords to service providers – also remains a work in process, with Treasury given a further 12 months to advise on a path forward.
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