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Avenue Bank granted exemption from Australia's data-portability rules

( June 11, 2025, 05:06 GMT | Official Statement) -- MLex Summary: Australian lender Avenue Bank has been granted an exemption from the country’s data-portability rules. In a statement, the Australian Competition & Consumer Commission, or ACCC, said it had granted the bank a permanent exemption under section 56GC of the 2010 Competition and Consumer Act from product data and consumer data-sharing obligations related to the term deposit component of its bank guarantee product. The ACCC approved the exemption following an application from the digital bank but did not explain its reasons for the decision to exempt it from the Consumer Data Right law's provisions. The instrument is attached and the full statement follows: ...

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