A new “consumer data right” is expected to be applied first to banks. People could find it easier to switch between banks and utilities after the Government announced it would establish a “consumer data right” giving people more control over information businesses held about them. Consumer Affairs Ministers David Clark said the consumer data right could help people get access to a wider range of products and services. Australia’s consumer data right was first applied to banks, and then power firms. Last year, former consumer affairs minister Kris Faafoi said the data right could help the development of open banking, and data sharing in other industries.

Source: Stuff July 05, 2021 22:17 UTC