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 penalty regime ($50M / 30% 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
Source: https://cdr.gov.au. Rules Mate is not a law firm. Always verify against the live regulator source before acting.