Mortgage Business
Inquiry outlines 100 ways to improve CDR By Sarah Buckley 19 January 2021
Third parties should be given “action initiation”, the final report into the Inquiry into Future Directions for the Consumer Data Right has recommended.
Last year, Treasurer Josh Frydenberg called for an inquiry into how the functionality of the Consumer Data Right (CDR) could be expanded. Namely, the inquiry sought to understand how the CDR could be used to “overcome barriers to consumers conveniently and efficiently switching between products and providers”, and to consider ways to promote inclusivity among vulnerable consumers.
The inquiry, spearheaded by KWM partner Scott Farrell, reportedly considered formal submissions from 73 parties last year and has now released a swathe of recommendation in its full report.