Policy Update - August #1
Consumer Data Right Rules: Consent and Operational Enhancement Amendments Consultation
Treasury have released a consultation seeking feedback on the draft rules for Consent and Operational Amendments, with feedback on the draft rules to prioritise support uptake of CDR by improving better consumer experience and operational enhancement to support use cases. This consultation follows from last year's submission of the Consent Review and Operational Enhancement Design Papers between August and October 2023.
FinTech Australia will make a submission. We will circulate further information to our Open Data Working Group and invite any interested parties to contact our policy team about contributing to our submission. The closing date for initial submissions is 9 September 2024.
Extending the Small business Responsible Lending Obligations Exemption
Treasury have released a consultation on small businesses responsible lending obligation exemption for feedback on the amendment of the National Consumer Credit Protection Regulation (2010) to extend the exemption of RLOs for small businesses which will expire on the 3 October 2024, to 3 October 2026.
FinTech Australia does not propose making a submission but please reach out if this consultation is of interest.
New Zealand Retail Payment System Consultation
The Commerce Commission of New Zealand has released a consultation detailing the Retail Payment System, with the focus being on the cost of card payments and consideration for further interchange fee regulation in New Zealand. With the Commission proposing approaches towards a possible benchmark for interchange fee caps.
FinTech Australia does not propose making a submission but please reach out if this consultation is of interest.
We recently made submissions on:
See our recent submissions on our website.
FinTech Australia regularly makes submissions to consultations across a wide range of policy and regulatory issues. Communications about how to get involved in these processes are distributed to our Policy Working Group membership.
