The government has amended the Consumer Data Right designation for authorised deposit-taking institutions to clarify the scope of products that are covered by extending the definition to leases. Under the original 2019 designation for open banking, “product” was defined as a good or service in connection with the following: taking money on deposit; making advances of money; and another financial activity prescribed by regulation for the purposes of the definition of a banking business. The amended designation, which was registered earlier this month, says lease products were always intended to be captured under open banking and the scheme has operated on that basis.  Explicit coverage now extends to consumer leases, equipment operating leases, finance leases for equipment or vehicles, novated leases used for car finance, vehicle fleet leasing and asset finance. The explanatory statement accompanying the amended designation says that, while the amendment is technical in nature, the government was keen to put it beyond doubt that the definition of “product” extends to leases.