Tag: CDR

CDR fines hit limits of foreign firms

Posted on   |  by Joseph Brookes
Global banking giant HSBC has avoided a hefty fine despite allegedly sending inaccurate and incomplete data through Australia’s budding economy-wide data sharing scheme. The bank paid penalties of $33,000...

Heavy lifting needed on data sharing, but not by banks

Posted on   |  by Sandy Plunkett
Here’s a philosophical question for the times: If a national economy-wide digital economy platform initiative is suffering a slow, tortured death – and no one notices – should it...

Australia’s CDR-enabled digital economy has been strangled

Posted on   |  by Sandy Plunkett
Remember the optimism around the Open Banking revolution and Australia’s new digital data economy opportunity a few years back? It was enthusiastic but fleeting, having bubbled-up somewhere after the...

Stronger enforcement on CDR data incoming: ACCC

Posted on   |  by Brandon How
Australia’s competition watchdog is set to increase enforcement activities against banks that feed poor data into the Consumer Data Right following consultation with data recipients. In particular, “significant shortcomings”...

Second review of $1.3bn MMI grants program on the cards

Posted on   |  by Justin Hendry
Australia’s national auditor is contemplating a review of the former Morrison government’s $1.3 billion Modern Manufacturing Initiative despite an earlier internal review commissioned by Labor clearing the grant selections....

Data quality issues holding back CDR scheme: report

Posted on   |  by Brandon How
A more deliberate effort to maintain good data quality in the Consumer Data Right (CDR) scheme must be taken to increase participation and present a viable alternative to screen...

ACCC issues first fine for alleged CDR breach

Posted on   |  by Brandon How
The competition watchdog has issued its first infringement notice for an alleged breach of the Consumer Data Right to the Bank of Queensland. The Australian Competition and Consumer Commission...