Exemption for National Australia Bank

On 4 December 2020 the Australian Competition and Consumer Commission (ACCC) granted an exemption under section 56GD of the Competition and Consumer Act 2010 (Cth) to National Australia Bank Limited (NAB), deferring its consumer data sharing obligations for its Foreign Currency Account until 1 September 2021, with an additional 6 months to deliver the Get Account Details API. The exemption granted also provides NAB with a permanent exemption for three separate Phase 3 products which are all currently off sale, being exited and have very low consumer numbers. The ACCC granted the exemption in response to an application from NAB.