Australia's NAB pays $488,800 penalty on breaches of consumer data rights rules
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 19 2025
0mins
Source: Reuters
NAB Fined for Data Breaches: The National Australia Bank has been fined A$751,200 for failing to disclose credit limit data, marking the highest penalty for breaches of Consumer Data Right (CDR) rules issued by the Australian Competition and Consumer Commission (ACCC).
Impact on Fintech Services: The inaccuracies in credit limit disclosures affected various fintech companies that rely on CDR data for services like mortgage broking; NAB has since cooperated with the ACCC and resolved the identified data quality error.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
