Exemption for Commonwealth Bank of Australia

On 4 November 2021, the Australian Competition and Consumer Commission (ACCC) granted an exemption under section 56GD of the Competition and Consumer Act 2010 (Cth), to Commonwealth Bank of Australia (CBA) deferring its phase 2 consumer data sharing obligations in respect of a product offered by the ‘Unloan’ brand, where accounts are held by individual customers who are employed by Commonwealth Bank of Australia at the time they commence accessing the product, until 1 April 2022.