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BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.

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BFCSA: ABC news survey: Tell them we need Royal Commission into the Banks and WHY!!!

Posted by on in Fraudulent Loan Apps
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Dear members

ABC news in conjunction with Vote Compass are doing an online survey to see what are the priorities in voters lives. Its a set of questions about the different parties, the economy, health, education, defence, asylum seekers and so on.

These are preset questions, but in the section marked demographics question no. 13 it states - please specify what issues are most important to you - so I've submitted - we need a Royal Commission into the finance industry for falsifying facts on loan applications and to give the Senate hearing into ASIC wide reaching powers.

This online survey has had more than 820,000 participants and has had more hits on google than both major parties combined, so it's another opportunity for us to publicise our plight and our quest for a R.C. Its completely anonymous and at the end it shows what your political leaning is, the results might surprise you so give it a go.

click here

http://www.abc.net.au/votecompass/

One other thing I would like to mention is the Senate submissions into ASIC seems to have stalled at seventy for almost a week now.  I don't know whether there is a problem at Canberra's end but you would think there would still be some filtering through? Maybe ASIC have let the gremlins loose because all the adverse publicity is starting to embarrass them and if you haven't put your submission in yet,  why not?

If you need help, say so. We are all here to help each other and gain the justice we deserve.

Thanks Neil T.

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  • doyla66
    doyla66 Tuesday, 20 August 2013

    easy peasy - I just voted online.

    re Q13 under demographics, you need to click "other" and then a drop down box appears for your own comment.

    agree Neil, royal commission into the finance industry needed.

  • doyla66
    doyla66 Tuesday, 20 August 2013

    I just put my comment in as well.

  • doyla66
    doyla66 Tuesday, 20 August 2013

    Thanks Neil.
    I did it. Included why we need a Royal Commission into Banking and Finance urgently.
    Without trust in the strength, leadership, integrity and honesty of our govt, our financial regulators and our banks we cannot have a healthy economy - and we can kiss consumer confidence goodbye until we start to feel quite a lot safer even depositing our money in savings accounts.
    Re submissions - I gather they have been going in but it wouldn't surprise me to learn that either APH is on "break" for the election or maybe it has been suggested that they wait until after the election to load up the next bundle.
    Maybe Senators want time to read them and make notes before putting them up. Also there is the matter of arranging right of reply for companies etc who have been named.
    I saw an article about Financial Planners and investors basically being afraid and/or being advised not to put in submissions because of what might happenif they did.
    http://www.moneymanagement.com.au/news/financial-services/2013/questions-around-lack-of-submissions-asic-senate

  • doyla66
    doyla66 Thursday, 29 August 2013

    I put my comment in also

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