Commonwealth Bank of Australia  has acknowledged there were shortcomings in its lending to clients involved with failed financial advisor Storm Financial, but says it is not responsible for financial advice provided by the firm."The bank acknowledges that the position in which some Storm Financial clients find themselves, while not caused directly by the bank, involves the bank to some degree," CBA said in a statement on Wednesday.The fallout from the Storm Financial collapse affects 2,500 CBA customers. The bank was the single largest provider of margin loans to Storm's clients, many of whom have lost their homes because their security was inadequate to cover the loans.Storm went into liquidation in March, owing creditors $78 million, including $27 million to CBA. The bank took an undisclosed provision on the exposure in the last financial year and said in the statement that "the financial impact to the bank of the Storm Financial issue is not considered material."The bank said it would immediately suspend repayment obligations on all loans made to customers in relation to Storm until August 31.As well, CBA will meet the cost of independent legal and financial advice to its Storm customers."In some cases we have identified shortcomings in how we lent money to our customers involved with Storm Financial," CBA chief executive Ralph Norris said in the statement."We are not proud of our involvement in some of these issues and we are working toward a fair and equitable outcome for our affected customers."Our customers can be assured that where we have done wrong, we will put it right."But Norris said financial advice provided independently by Storm to the bank's customers was not its responsibility."That was clearly the responsibility of Storm Financial, a licensed financial advisory company," he said.Townsville-based Storm Financial, which had more than 13,000 clients and $4.5 billion under management at its peak, collapsed in January.Bank of Queensland also provided a large number of margin loans to Storm Financial Crisis. BoQ has asked customers facing finance distress to contact it to discuss options.