Internal moves at Treasury catch the eye of fintech insiders in the wake of CDR cuts
The fintech industry says cuts to the CDR team within Treasury were “definitely noticed” but a series of people moves at the government department could bode well for reforms.
Fintech industry insiders say they are not alarmed by Treasury’s move to slash the team responsible for implementing the sector’s cherished consumer data right (CDR) reforms, arguing that internal moves in the government department signal progress after years of inaction.
On Monday, Capital Brief reported that Treasury had cut 50% of its CDR team since November 2022, with Assistant Treasurer Daniel Mulino insisting that the unit still has enough resources to deliver on the years-long project.
“The staffing change was definitely noticed. There used to be five or six units at Treasury working on CDR right before 2022 and then that got pared back to around two units,” an industry source familiar with the situation who spoke on the condition of anonymity told Capital Brief.
“There was a lot less coming through the pipeline, there was a pause in the sectors CDR was being rolled out to and from that point there was a real slowdown.”
