Practical Law ANZ Glossary w-026-4833 (Approx. 3 pages)
Glossary
Consumer Data Right (CDR)
The Consumer Data Right (CDR) provides, among other things, consumers (which may include both individuals and businesses) with a right to effectively and efficiently access specified data held about them by businesses and direct the transfer of that data to other accredited data recipients as prescribed by the Competition and Consumer (Consumer Data Right) Rules 2020 (Cth).
The CDR aims to:
Help consumers monitor finances, utilities and other services.
Provide ease in comparing and switching between different offerings.
Encourage innovation and competition among service providers.