BFCSA Blog

Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

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That's not a debt disaster  -  This IS a debt disaster:  Joe and Tony's big con 11 October 2014 Alan Austin http://www.independentaustralia.net/politics/politics-display/thats-not-a-debt-disaster--this-is-a-debt-disaster-joe--tonys-big-con,6984 Alan Austin presents another exclusive report the mainstream media will not touch — Australia’s rapidly escalating borrowings since Abbott and Hockey came to office promising to end ‘Labor’s debt disaster’. AUSTRALIA’S DEBT since Joe Hockey took charge of the nation’s finances has increased dramatically.  The rate of expansion shows no signs of slowing.  Monthly finance figures for July and August were quietly released yesterday — late on Friday night, several weeks late, after seemingly being sat on by Cormann for at least a week*.  They show the Abbott Government has achieved precisely the opposite of its solemn pre-election undertaking to bring about   ‘… a reduction of $30 billion in net debt.’ In July and August alone – two months for which it is impossible for PM Tony Abbott to blame...
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Citizens Electoral Council of Australia Media Release  Wednesday, 26 March 2014 Craig Isherwood‚ National Secretary PO Box 376‚ COBURG‚ VIC 3058 Phone: 1800 636 432 Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Website: http://www.cecaust.com.au   Hockey gives London oversight of Australia’s ‘fixed’ financial system inquiry Treasurer Joe Hockey is consolidating the push Paul Keating started to turn Australia’s economy into a financial casino, by giving oversight of Australia’s new financial system inquiry to one of the City of London’s leading financial gamblers and political insiders. [Click here to see Hockey’s “Open for Business” policy in action.] He has named British-Australian businessman Sir Michael Hintze as one of four leading international business people to oversee the so-called Son of Wallis inquiry. The City of London financial centre operates as a lawless enclave in the financial world, a deregulated zone from where most of the world’s derivatives bets and speculative currency raids have been made. Ironically, its status...
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  • doyla66
    doyla66 says #
    Son of Wallis is sounding more like Son of LIBOR. Our Government will regret missing the opportunity to rectify Australia's Banki
  • doyla66
    doyla66 says #
    What in the hell is Hockey and Abbott thinking, they are now losing my vote. As if banks are not profiting big time at present thi
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In April 2013 The Australian Federal Treasury released it’s views on changes that it wants made to Disclosure Requirements in the National Consumer Protection Act 2009. Read below to see what existing consumer rights Treasury intends should be stripped away from all borrowers: ‘ ISSUE 1- REMOVING THE REQUIREMENT TO PROVIDE THE INFORMATION STATEMENT 1.15. Lenders are currently required to provide an Information Statement of the debtor’s statutory rights and obligations to borrowers; see section 16 of the Code and Form 5 as prescribed by Regulation 70. Previous Treasury consultations suggested that there was  little point in retaining this requirement (noting that the Information Statement  includes disclosure of the credit provider’s membership of an External Dispute  Resolution scheme, with this disclosure replicated in the Credit Guide). 1.16. Treasury therefore considers that the requirement to provide the Information Statement should be repealed.’ Borrowers may lose all rights they had by law to obtain the key information which...
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  • doyla66
    doyla66 says #
    They seem to forget that without the people depositing and borrowing they have no power. Everyone should take all their money out
  • doyla66
    doyla66 says #
    Yes We gave them the power - now we are taking that power back. We are braver than government and others who are afraid of upset
  • doyla66
    doyla66 says #
    Sneaky! Sneaky! Sneaky! BFCSA is causing grief to the banks so now they are going to try to sneak this stuff in through the bac
  • doyla66
    doyla66 says #
    THEY'RE THE BANKSTER'S MATES LISA. The banks would feel they have more chance two idiots doing it then anyone else, so they will b
  • doyla66
    doyla66 says #
    So Medcraft and Swan want to leave us with a little stinger to remember them by? Politeness prohibits my expressing what I think
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Posted by on in Federal Treasury
Dear Members On the eve of the budget Wayne must realise this is his last hurrah. Twelve months ago he and Julia confidently told us we would definitely be back in surplus by now and poo pooed anyone who suggested otherwise. Now Wayne says give me another four years and we will balance the books, he is either delusional or truly believes the party line they all spruik. What a waste of time and resources because anything that's put in place will be dismantled by Joe Hockey come September. To add insult to injury Wayne says things are tight, public service jobs have to go and hard financial decisions have to be made and on the same day Anthony Albanese out bids the coalitions one point five billion dollars and bids one point eight billion dollars towards the Western Suburbs link road in Sydney, chasing the votes no doubt. Now the election is...
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  • doyla66
    doyla66 says #
    Post Budget - the word is that what Australia needs is full employment to solve the economic woes. More workers, more tax paid, mo
  • doyla66
    doyla66 says #
    Well, we roused on Wayne for being unrealistic. Now he's in the poo for telling us how crook things are! What we've seen since th
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