Published by Denham Sadler, InnovationAus.com, 4 Mar 2019.

The federal government had “severely underestimated” the privacy risks of the Consumer Data Right, even as it pushes to complete an inquiry process and pass the legislation before the election, according to the Australian Privacy Foundation.

The Consumer Data Right (CDR) legislation, which lays the groundwork for open banking and other data access schemes across other sectors, was introduced to Parliament last month. It was quickly passed up to the Senate, and immediately referred to the Economics Legislation Committee for inquiry.

But the committee was tasked with reporting back by 18 March, with submissions closing on 28 February, leaving just two weeks for stakeholders to have their say.

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