Exemption for Commonwealth Bank of Australia

On 28 September 2020 the Australian Competition and Consumer Commission (ACCC) granted an exemption under section 56GD of the Competition and Consumer Act 2010 (Cth) to the Commonwealth Bank of Australia (CBA), deferring its consumer data sharing obligations for its Passbook account products. The exemption granted provides CBA with a permanent exemption for pending Passbook account transaction data and a time limited exemption until 1 June 2021 for all other required consumer data relating to CBA Passbook transaction accounts.

The ACCC granted the exemption in response to an application from CBA .