Financial Rights believes that the draft CDR legislation (and approach) is misconceived and fundamentally flawed in a significant number of ways:
- The CDR is limited in scope and misleads consumers
- The CDR is piecemeal and expedites Australia falling behind the rest of the world
- The CDR establishes multiple privacy standards, confusing consumers and placing them at risk
- The CDR facilitates the leakage of sensitive financial data to entities that provide lower privacy protections
- The CDR establishes flawed and incomplete privacy safeguards
- The CDR institutes two very different FinTech sectors
