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Australia set for 'reset' of banking data-portability rollout, says key minister

( August 9, 2024, 00:29 GMT | Official Statement) -- MLex Summary: Australia’s open banking regime is likely to be extended to non-bank lending in early 2025 and be operational by mid-2026, says a key lawmaker. In a speech in Sydney today, Assistant Treasurer Stephen Jones said the government would also consult on changes designed to streamline consent processes and operational rules for Australia’s Consumer Data Right. Treasury has released draft rules and an explanatory memorandum on the proposed changes, with consultation open until September 9.The full statement from Assistant Treasurer Stephen Jones follows; Jones' speech also follows; The consultation paper, exposure draft laws, explanatory materials and privacy impact assessment is attached....

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