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Have your say › Exploring a consumer data right for the banking sector

Exploring a consumer data right for the banking sector

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Submissions due: 10 October 2024, 5pm

Tell us your views on the proposals for open banking designation regulations

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About this consultation

The Government is introducing legislation to create a framework for the timely, secure, standardised exchange of data in designated sectors. This is the Customer and Product Data Bill (the Bill). The Bill is generic and is applied to particular sectors by passing regulations. The banking sector is being considered for designation under this Bill (as is the electricity sector). We are interested in hearing your feedback. 

What we are seeking feedback on

This discussion paper seeks your views on the:

  • scope of open banking designation regulations
  • requisite accreditation criteria required for accredited requestors to access data
  • appropriate fees and relevant standards necessary for a functioning regime
  • costs, benefits and risks associated with an open banking designation.

Relevant documents

MBIE is also consulting on a possible CDR for the electricity sector.

Find out about that consultation and have your say

How to make a submission

Submissions will close at 5pm on Thursday 10 October 2024.

You can make a submission by:

  • completing the submission form template provided in the list of documents above, and
  • emailing it as a Microsoft Word document to: consumerdataright@mbie.govt.nz with “Open banking CDR submission” in the subject line.

Where possible, please use evidence to support your views. Examples can include facts and figures or references to independent research.

Please see page 4 and 5 of the discussion paper and pages 2 and 3 of the submission form for information on how MBIE may use or release the information you supply as part of this consultation.

Please include your contact details in the covering letter or email accompanying your submission. Please direct any questions you may have on the submission process to: consumer@mbie.govt.nz  

Tags

Competition regulation
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