Consumers will be given "data rights" after mounting government frustration with a banking sector go-slow on implementing open banking. Faafoi's plan for a consumer data rights law was "really interesting", and appeared to be a parallel for laws introduced in Australia. KATHRYN GEORGE Open banking was supposed to unlock New Zealanders' banking data helping create competition to drive down the cost of banking. He applauded the plan for consumers in New Zealand to have their data rights enshrined in law. "The topic was first discussed here three years ago, when it became clear that personal data rights would become the global norm.

Source: Stuff December 19, 2019 21:13 UTC