Consumer Data Right (CDR)
Australia's law giving consumers the right to have their banking data, and later their energy data, passed to a service of their choosing.
Where the EU built open banking as a payment services rule inside PSD2, Australia went broader: a general right to your own data, rolled out one industry at a time. The law passed in 2019 and the four major banks began sharing data in July 2020, with the energy sector following a few years later. Only accredited recipients may receive data, and customers consent per purpose and for a limited period.
Technically CDR is one of the stricter regimes, with a security profile built on FAPI and common data standards for every participant. Most of the criticism has been about uptake: accreditation is expensive and few consumers have heard of the right. The American counterpart, Section 1033, took considerably longer just to get written.