This Government bill establishes an economy-wide framework to enable greater access to, and sharing of, customer and product data between businesses (a consumer data right). It was enacted as the Customer and Product Data Act 2025.
Parliament advanced this bill under urgency (committee of whole house, third reading) — moving it through faster than usual, with less time than normal for public submissions.
This Government bill sets up an economy-wide "consumer data right" framework that lets people authorise trusted, accredited third parties to access data held about them — for example, their bank transaction history — plus general "product data" about available services. Government designates which sectors are covered through regulations, with banking (open banking) first in line and others such as electricity able to follow. It can also enable "action initiation," like making payments on a customer's behalf. It affects consumers, banks, and new fintech providers, and aims to boost competition, easier switching, and tailored services.
The framework is conceptually similar to Australia's Consumer Data Right and open-banking regimes overseas. MBIE oversees sector designation and accredits data recipients, while the Privacy Commissioner handles breaches of personal data. Supporters argue it increases competition, gives people control over their own data, and spurs innovation and cheaper services. Opponents point to privacy and security risks, compliance costs for established firms, scope for scams or data misuse, and unevenly shared benefits.
See the Parliament.nz ↗ site for the full bill.