The Australian Government has committed to legislate a Consumer Data Right – a collection of data access and use rights for consumers that includes the right to transfer data from current service providers.
The Government is considering two sets of recommendations about how the Consumer Data Right can be implemented: one from the Productivity Commission’s Data Availability and Use inquiry, and one from Mr Scott Farrell’s Review into Open Banking in Australia.
The Business Council believes consumers will be best served if the Consumer Data Right is implemented in a way that is practical, economically efficient and does not increase the risk to consumers’ privacy or security.