Treasurer Josh Frydenberg says the government is getting its consumer data right reform back on track, with the reintroduction of legislation during the current sitting of Parliament, which runs over the next two weeks. The government introduced the Treasury Laws Amendment (Consumer Data Right) Bill 2019 in February but it had not made any progress through Parliament by the time the May election was called.Despite the halting progress of the bill, the Australian Competition and Consumer Commission has pushed ahead with the first phase of the reform, an Open Banking pilot that started this month and, at this stage, involves three of the big four banks (NAB the bank taking its time getting set).The new consumer data right is designed to give consumers and businesses access to transaction information held by various service providers. It authorises accredited third parties and "gateways" to provide access to the data.The government's aim is to give consumers more control over their transaction information, leading to more choice in where they do business and more convenience in managing financial and other services.CDR should reduce the barriers that prevent consumers from shifting between service providers. Consumers will be able to direct that their data be shared with other providers.The government has said it will apply CDR to banks, energy companies and telcos initially and then across the economy. CDR as it relates to banking is referred to as 'Open Banking'.The government is also hoping CDR will open up business opportunities "as new ways of using data are created".Assuming the bill is passed, the next stage of development starts in February next year, when consumers will start to get access to information the banks hold on them. Consumers will then have the power to require their banks to provide access to that information to third parties.Frydenberg said the ACCC would issue a final version of the rules governing the operation of Open Banking by the end of August. An interim data standards body has issued draft technical standards.Westpac said in a statement issued earlier this month that the Open Banking pilot, which only includes generic product data, "will lay initial foundations to test the performance, reliability and security of the system before any personal consumer data is shared".