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
Who must comply with this? The applicability test by industry, business structure and size.
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
- 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.