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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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ASIC shot the wrong horse - again! Consumers are "over" ASICs lack of right action.

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What is it with ASIC and women brokers?

ASIC in their hurry to be seen to be doing "something" for the money have shot the wrong horse again and sent the message to banks that they'll keep punishing the brokers and letting the banks off the hook.

This is not what the people (ASICs bosses) asked for! I hope the scapegoat brokers appeal against their public vilification by an out of touch and out of date system and tell all to the media and BFCSA, like Kate did. I guess the BANKS and ASIC "lost" Kate as a victim, so they had to find another one to hang out to dry. Does anyone know the brokers who were busted for the BANKS crimes?

ASIC are money harvesting cowards. They lack the fundamentals to take on the banks beyond a token effort. I've seen it over and over - ASIC pick on the soft targets. Expect more formerly successful female brokers to get the ASIC treatment. Jealousy is a curse even in a dying market place. Let's hear the brokers' stories.

Read the very public criticisms of ASIC. - repeatedly "ASIC are useless". It's an Australian business mantra. We don't respect them at all. We comply and put up with them. Have you seen what the corporate criminals and big businesses are getting away with while ASIC turn a blind eye because it's all too hard or it's not in this year's budget! Why would anyone spontaneously do the right thing in Australian business apart from working in accordance with their own personal values and consciences? When our personal business ethics are high, we certainly don't need ASIC to tell us right from wrong !!

ASIC has lost the respect of business and consumers alike right across Australia.

Australian small business operators would sack ASIC for incompetence and lack of productivity if we could, as would the many who have lost their homes, suffered through bankruptcy and been hurt by the "almighty" Australian Banks.

The mainstream public want ASIC to take on the corporate bullies, scammers, liars, cheats and especially THE BANKS. The conduct of the BANKS appals and disgusts us and will continue to do so until both government and ASIC reflect OUR Australian values. They both have a long way to go.

Small business operators are tired of being ripped off by excessive bank fees. They've joined class actions themselves in the thousands to take on the banks and demand a fair deal. If we'd waited for ASIC to do it for us we'd be out of business already. Some of us already are due to ASICs laxness with the Banks and the predatory conduct and dirty tactics of the likes of Bank West and other banks. It's hard enough in small business. For all their rhetoric about helping small business the damage the banks are doing to Australian small business owners would fill many books. Make the banks compensate us for sucking small business operators dry

Mainstream Australian small business people want ASIC to get off OUR backs and concentrate their excessively well paid minds to going after those who persecute and rob US, right now, not just when it's in their budget forecast. How can ASIC justify their massive operating budget and phenomenal salaries? ASIC are ripping off Australian tax payers, small business owners, consumers and those seeing justice from Banks alike. We've all been shortchanged by the BANKS. Get it right, ASIC. Focus on the main game and leave the small players alone.

Thank goodness we still the BFCSA and the police to look after us all.

ASICs chances are zilch of ever pulling their reputation out of the fire. For their government "feeders" that usually means: reinvent, rename, rebadge, reimagine, remarket. It won't work. We've seen all that before, and the rabbit in the hat trick. Australian consumers aren't children to be distracted and entertained. Give us a real corporate regulator with the teeth and other fundamentals to go after the real corporate bullies and secret scammers like the BANKS who make this country unsafe for vulnerable consumers and small businesses and make sure they are willing and able to respond to consumer calls for real practical help. Unlike ASIC.

Or else, ASIC, just give up, hand your whole BUDGET and ID cards over.

Denise Brailey and the BFCSA will show you how to clean out the corporate crooks and bullies properly!

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Guest Tuesday, 20 October 2020