DSPANZ provided a submission to the Consumer Data Right Open Finance Sectoral Assessment for Non Bank Lending on 14 April 2022.
While we broadly supported the expansion of the Consumer Data Right (CDR) to Open Finance data and complementary government-held datasets in this submission, we raised concerns about the unintended consequences and impacts for our members considering the effects of the Open Banking rollout. Given this prior experience, we anticipate impacts to our members who offer accounting, payroll and superannuation services.
We also recommended working closely with DSPANZ and similar industry bodies such as professional accounting associations and superannuation associations to help avoid any potential impacts.
Access a full copy of this submission here.