Supplementary Submission: Open Banking Review
Consumer Action Law Centre (Consumer Action), Financial Rights Legal Centre (Financial Rights) and Financial Counselling Australia (FCA) are pleased to make this supplementary submission in response to the Open Banking Review Issues Paper.
In September 2017, Consumer Action, Financial Rights and FCA provided a submission to the Open Banking Review that outlined a number of the potential risks and costs that may face consumers in under an Open Banking regime.
This submission supplements that work by making specific recommendations that we believe should be implemented from the start of any Open Banking regime to ensure consumers are adequately protected and able to realise the benefits increased data sharing.
Read the full submission here [PDF].171025 Open Banking Supplementary Submission - FINAL