A consultation paper on responsible lending published yesterday by the Australian Securities and Investments Commission won't lead to much rewriting of lending manuals.Released in the context of forthcoming changes to consumer law enacted by federal parliament, the paper sets out how ASIC might go about enforcing the law (and dealing with miscreants).On the key theme of the new law - the need to make "reasonable inquiries" - ASIC lists tasks that most lenders would undertake anyway.The paper makes clear lenders need to take into account the potential impact on the consumer of entering into an unsuitable loan, the complexity of the credit contract and the objectives and financial literacy of the consumer.Large home loans demand more careful assessment of a loan's suitability than a small personal loan, ASIC suggests.The paper makes clear that some loan types will become rarer, and cites as an example no doc loans to anyone with a regular income.Providers of point of sale finance also won't be able to approve credit limits much in excess of the price of the goods the customer plans to buy if the ASIC policy position stands and lenders follow the principle.