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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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Anthony Klan in Australian

Posted by on in Fraudulent Loan Apps
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The Australian page 6 - Anthony Klan reporting on the Senate hearing says senator John Williams has called for a royal commission into the banking sector following evidence of widespread improper lending practices......."If only 10 percent of what comes in to my office is true we have a problem and we should have a royal commission" Senator Willaims told the enquiry.....

Senator Williams "one 98 year old was lent $440,000 and given a 30year loan secured against her home.  I call that bloody disgraceful" ....

 

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Comments

  • doyla66
    doyla66 Thursday, 09 August 2012

    Thanks, wendee, I was looking for media reports on yesterday's events.

  • doyla66
    doyla66 Thursday, 09 August 2012

    Free 28 day access

    If you haven't done it already it's worth getting a free 28 day pass to read the reports by Anthony Klan in The Australian.

  • doyla66
    doyla66 Thursday, 09 August 2012

    Thank goodness that a Senator has called for a Royal Commission into the lending practices of the banking sector - let the games begin and see how certain banks try and cover their tracks. I, like a lot of you have the evidence to back up the claims of improper lending practices by the banks.

  • doyla66
    doyla66 Thursday, 09 August 2012

    Hi Lisa, how do i get this free 28 day pass - could you explain a little more about it. Thanks!!

  • doyla66
    doyla66 Thursday, 09 August 2012

    Hi All,

    Type the flwg link www.theaustralian.com.au into your internet browser
    when the site comes up on the right hand corner there will be an 'advert' to 'start free trial', click on that and follow prompt.
    EASIE PEASIE....good luck!

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