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Wednesday, 12 September 2018 11:18

ACCC wants public input on Consumer Data Right rules

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ACCC wants public input on Consumer Data Right rules Image courtesy of Stuart Miles at FreeDigitalPhotos.net

The Australian Compeition and Consumer Commission is seeking public submisssions on the Consumer Data Right compliance rules currently being developed, and which will allow consumers to require their bank to share their data with accredited service providers.

The consumer watchdog issued a notice on Wednesday seeking feedback from consumers, businesses and community organisations on the approach and positions it proposes to take in setting up the CDR rules.

As part of the consultation process, the ACCC plans to hold a number of stakeholder forums.

The CDR is a competition and consumer reform announced by the Australian Government in May 2018 and the ACCC has been given the lead role in rule-making, consumer education and enforcement.

“It is important to the success of the CDR regime that consumers, businesses and stakeholders have transparency over the ACCC’s approach in setting up these detailed rules,” ACCC commissioner Sarah Court said.

“The overarching principle the ACCC will take is to implement the Consumer Data Right in a way that provides benefits to consumers, without compromising data security,

“The CDR will be a major change in the way consumers can use their data and consulting the views of consumers and businesses is a top priority for the ACCC.”

Court said the current Rules Framework had a banking focus, because the banking sector was the first that would make the CDR available to consumers.

Other sectors would be brought into the CDR regime over time, and the government has announced energy and telecommunications should be the next sectors included.

“The ACCC will work toward developing frameworks tailored to specific industries as they are designated and added to the CDR regime,” Court said.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).