Smaller Australian lenders could sidestep data-portability under proposal
By James Panichi ( October 8, 2025, 04:34 GMT | Insight) -- Data-portability rules for Australia’s banking sector are facing a significant overhaul, with the government set to release a discussion paper proposing that smaller regional banks and credit unions be exempt from the country’s fledgling “open banking” provisions. In a discussion paper seen by MLex, the government is seeking feedback on the possible impact of a “de minimis” exemption to the Consumer Data Right, which would allow financial services companies falling beneath a $3.28 billion threshold to sidestep the regime.Australia’s data-portability rules for the banking sector are facing a significant overhaul, with the government set to release a discussion paper proposing that smaller regional banks and credit unions be exempt from the country’s fledgling open-banking provisions....
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