The financial sector is the backbone of any industry. If an industry is weak in its finance then it can soon be extinct. The major key role of financial service industry is to provide people with the important services that are mostly needed in everyday basis. While our research, we interviewed a professional employee from the Australia’s no 1 bank, commonwealth bank. The main issue we put through our conversation was about a credit card and how easy or difficult it is for someone to get a credit card as well as the terms on which a bank provides a credit card to a person. While our interview we noticed that actually the banks are following many kinds of rules which we don’t even notice and are putting through many codes of conduct formed by the legislation. The first thing we noticed was that the banks follow the privacy act and keep all the client related data’s confidential. Similarly the product disclosure act are strictly followed by them. They also make sure that all the customers of commonwealth bank are happy with their service and provide the right information’s about their services like credit cards, home loan, insurance, superannuation etc. They constantly follow the legislation made by ATO, ASIC, ACI, Australians direct marketing association , Australians financial marketing association etc.