Submission to Treasury: Consumer Data Right – Strategic Assessment

CPRC believes that while an economy-wide consumer data right strategy has the potential to bring benefits to all Australians, it’s development and implementation should be thoughtful and reflective of the needs of consumers. Appropriate steps need to be put into place to mitigate risks to consumers to achieve what was originally intended for Consumer Data Right (CDR) – giving consumers greater control over their data.

CPRC is urging Treasury to consider a range of initiatives that we believe will help strengthen the CDR regime to ensure an economy-wide roll-out is in line with consumer and community expectations:

• Implement a sector-neutral, use case focussed economy-wide roll-out
• Identify clear consumer-centric success metrics for the economy-wide roll-out of CDR
• Conduct a cost-benefit analysis identifying direct benefits to consumers
• Implement Privacy Act reforms to ensure the environment surrounding the CDR provides sufficient protection for consumers as their data is opened up
• Outline the process of auditing and enforcing the CDR regime
• Undertake comprehensive consumer experience (CX) testing
• Establish a Digital Ombudsman