The Australian Securities and Investments Commission (ASIC) v The Cash Store Pty Ltd (2015) was a major landmark case for consumer credit, with a huge recorded penalty ordered by the Federal Court. On the 19th February 2015 the court awarded penalties of $18.975 million against pay day lender, the Cash Store and loan funder Assistive Finance Australia for failing to comply with their responsible lending obligations under consumer lending law. It held contraventions to the National Consumer Credit Protection Act (2009), the National Credit Code and the ASIC Act. During the case, they sampled 281 contracts, where only 24 contained any evidence of a preliminary assessment as to whether the credit contract met the customers’ requirements and whether
