Reforms intended to make it easier to switch banks have been delayed for five months, the consumer competition watchdog says.
The Consumer Data Right was originally planned to be launched in February, allowing customers to access data about themselves held by businesses and direct this information to third parties of their choice, but is now due to start in July.
The Australian Competition and Consumer Commission said the extra time would permit more testing of the system and “better ensure necessary security and privacy protections operate effectively”.
AAP
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