ASIC recently announced CBA would be fined $180k for failures in meeting its responsible lending obligations. CBA self-reported the matter to ASIC after identifying a systems failure in calculating consumers' ability to service approved overdrafts, affecting more than 9000 consumers.   This is a graphic example, and BMW Finance is another, that demonstrates that ASIC requires ALL Licenced persons (ACL holders & Credit Representatives) to ensure they meet their responsible lending obligations. Both these examples involved failures around 'proper accounting' for living expenses.