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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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Bendigo and Adelaide Bank on ACA - BFCSA says "Another BANK TO STAY AWAY FROM"

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ACA last night demonstrated why BENDIGO bank cannot be trusted.  This is the Bank who has stupid lawyers arguing with BFCSA that they are not obliged to give copies of LAFs "under the new NCCP Laws."  WE proved them WRONG!

Now their even dumber public relations people stated: "No customer envisages getting into financial difficulty when they initially take out a loan, however, if this situation does happen, Adelaide Bank works closely with the customer to explore all the options available to them.

Yes the work "closely" ON THEIR EVICTION SKILLS .  Bendigo and its uninformed lawyers have a giant attitude problem.  This means that Senior Management still does not understand that it was their own greed in asking their own Credit Assessors to PUMP UP THE VOLUME on mortgage lending and have no regard for people's affordability to service the loan that has led them to this catastrophe for the bank and all customers affected by these evil activities.

Bendigo envisaged difficulty due to age of "borrowers" and also the funds loaned were enough to pay payments FOR A FEW YEARS AND THEN bank could move in and take the home.....Their clap-trap is a disgrace and the Prime Ministerial failure to respond is the greatest worry.

The BENDIGO plot was to blame the Broker for using the Bank's own SERVICE CALCULATOR as its preferred instrument of torture.

The Service Calculator would have calculated that the pensioners were on $300,000 income per year!!!! AND BENDIGO made the decision on Managerial level to

1   NEVER PHONE THE CLIENT TO VERIFY INCOME or the clients would have said NO to the loan and said: "we are pensioners dear..."

2.  NEVER GIVE A COPY OF THE LAF TO THE CLIENT and ditto to all customers of FULL DOCS as well as LOW DOCS AND NO DOCS.

Dear Mr Bendigo.... please put all these customers back in a position as if they had never met you, in line with HIGH COURT decision in Firstmac 2012 

These activities by your bank were not only imprudent lending, fraud was  a key ingredient...fraud perpetrated by the engineering of the SERVICE CALCULATOR in the first place!!!  So you must negate all fees charges and interest as you clearly, CANNOT PROFIT FROM A FRAUD!!!!

Your bank's intention was to blame AND FRAME everyone but yourselves.  A change in attitude and "Gecko" culture would be welcome.

Any other pensioners being stabbed in the back by Bendigo?  This email address is being protected from spambots. You need JavaScript enabled to view it.


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  • doyla66
    doyla66 Thursday, 20 September 2012

    A few more active police interviewing law breaking and complacent bank staff will certainly assist them in deciding there are a few more options that they could explore with their clients... like giving up on stealing their homes, handing back the title deeds and all the banks profits from the fraud. When you also factor in the impact and longer term health effects from the severe hardship and distress experienced by older clients at the hands of the callous bank staff it would not be unreasonable for them to get the lot back and forget about the concept of any benefits at all. Then send the bank staff to jail and fine them heavily to get the message through to other bank staff who have been fudging the figures for years. We know it, we even know who some of them are. So do the banks and lenders. We've got the clock on them...

    Banks and other lenders have shown how afraid they are of the threat posed by borrowers with Fraud Loan documentation: loss of good standing, loss of money, loss of securitised income, loss of borrowing power, loss of access to political ears, and so on ...
    It would not surprise me if one of the Banks' risk management methods will be to find all the borrowers who were over 70 when loaned the money and pull back their loans any way possible ...
    Banks have proven themselves vindictive and thick as a brick over and over ... boofheads & knuckleheads with substandard thug lawyers ... better let all the senior citizens organisations know that BFCSA are here for them if needed and ready for the banks when they try that sort of stunt to rid their books of older borrowers ... all borrowers over 80 might like to contact us to have their loans cancelled today :D

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