The Consumer Data Right hardly anyone is using is a salutary tale as Treasurer Jim Chalmers seeks to help smaller banks compete against the big four.
First proposed by the Productivity Commission, a regulated regime that empowered customers to safely own and share their banking data and shop around for better deals on home loan and deposit rates sounds like an innovative digitally enabled way to help disrupt Australia’s banking oligopoly.
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The Australian Financial Review’s succinct take on the principles at stake in major domestic and global stories – and what policy makers should do about them.
