Treasury quietly cuts consumer data right team in half
Around 25 roles have been shed from the team working on a key pillar of open banking which could spark nervousness within the fintech community about the government’s commitment to the reforms.
Treasury has quietly slashed in half the team managing its high-profile consumer data right (CDR) program, despite repeatedly saying it is committed to rolling it out to more industries.
The job cuts could spark nervousness about the government’s commitment to CDR, an economy-wide program to make it easier for consumers to switch between services providers in various industry and a key pillar of ‘open banking’.
CDR has long been championed by new deputy Liberal leader Jane Hume, who has been vocal in parliament about the slow rollout, especially given the pause placed on sectors such as superannuation, insurance and telecommunications.
But the government has defended the decision saying the department has all the resources required to deliver.
