Major banks must provide CDR Banking + Action Initiation (2026)
CDR Action Initiation lets accredited recipients initiate payments + actions on consumer behalf.
Who must comply
Major + non-major ADIs as Action Initiators or Recipients.
What triggers it
Being a data holder or accredited recipient.
When due
Phased through 2026.
Evidence required
Action Initiation accreditation + technical compliance.
Max penalty
CDR civil penalty regime (CCA s56EV): up to $10M / 3× benefit / 10% turnover; ACCC + OAIC enforcement
Summary
Treasury Laws Amendment (Consumer Data Right) Act 2024 extends CDR to include 'Action Initiation' — accredited recipients can initiate payments + other actions on consumer behalf. Major banks + larger ADIs in scope from 2026.
Enforced by
Source legislation
Industries
Topics
Related obligations
- CWLTHConsumer Data Right (CDR) participant accreditation + complianceBanking, energy and (soon) non-bank lending data sharing — accredited participants must comply with privacy safeguards.
- CWLTHComply with CDR Banking (Open Banking) — major + non-major ADIsBanking data holders must share consumer data with accredited recipients on consumer consent.
- CWLTHCDR Energy sector — phasedEnergy retailers + distributors must share data via CDR.
Frequently asked questions
- Who must comply with Major banks must provide CDR Banking + Action Initiation (2026)?
- Major + non-major ADIs as Action Initiators or Recipients.
- What triggers Major banks must provide CDR Banking + Action Initiation (2026)?
- Being a data holder or accredited recipient.
- When is Major banks must provide CDR Banking + Action Initiation (2026) due?
- Phased through 2026.
- What is the maximum penalty for Major banks must provide CDR Banking + Action Initiation (2026)?
- CDR civil penalty regime (CCA s56EV): up to $10M / 3× benefit / 10% turnover; ACCC + OAIC enforcement
- What evidence is required for Major banks must provide CDR Banking + Action Initiation (2026)?
- Action Initiation accreditation + technical compliance.
Source: https://cdr.gov.au. Rules Mate is not a law firm. Always verify against the live regulator source before acting.