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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: America hits back at UK and French Banks re mortgage lending practices $10 billion in fines

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http://www.theguardian.com/business/2014/may/30/bnp-paribas-faces-10bn-fine-us-sanctions-investigation

Friday 30 May 2014

BNP Paribas faces fine of more than $10bn in US sanctions investigation

US justice department pushing France's biggest bank to plead guilty to charges it violated US sanctions against Iran. France's biggest bank, is reported to be facing a fine of more than $10bn (£6bn) to settle allegations that it violated US sanctions against Iran and other countries. The US justice department is pushing the bank to plead guilty to the charges and pay one of the biggest penalties ever imposed on a bank, according to the Wall Street Journal. A deal between the bank and the authorities is still weeks away and the final penalty could yet come in lower than $10bn. The Journal said BNP was seeking to pay less than $8bn, though a person familiar with the bank said its negotiators had not proposed that figure to the justice department.

 

The US has been investigating BNP Paribas for years. The bank said last month that it faced a penalty of at least $1.1bn, but declined to name the specific sum. Last week it was reported to be facing a fine of at least $3bn, but the picture now looks far gloomier for the bank. A $10bn fine would be more than five times the biggest amount paid by a bank to settle allegations of violating US sanctions. The US authorities have come down hard on foreign banks, many of them from the UK, for allowing transactions through the US financial system involving parties in Iran, Sudan and other blacklisted countries.............

 

 

http://www.businessinsider.com.au/bnp-paribas-banker-murdered-in-belgium-2014-4

 

Julia La RocheApr 22 2014,

A BNP Paribas Banker, His Wife, And His Nephew Were Fatally Shot Outside Their Home

A Belgium-based BNP Paribas banker, his wife, and a nephew were shot dead outside their home in Visé late Friday night, Belgian newspaper La Libre reports, citing police sources via Google translate. Benoît Philippens, 37, who was a director of BNP Paribas Fortis in the Liège area, was fatally shot in the head and stomach. His nephew, a 9-year-old boy named Esteban, was also killed. The banker’s wife, Carol Haid, 37, who’s the boy’s aunt and godmother, died from three gunshot wounds in her back. The incident happened around 11 p.m.

 

Authorities believe that the shooter was waiting in a car for the family to return to their home, the report said. According to newspaper La Meuse, authorities identified the murder weapon as a 9-mm pistol. So far, no arrests have been made. Newspaper L’avenir reported that the couple had lived in the home for five or six years and had been married for one year. The paper said they’re a family “without history.” Philippens is also a youth soccer coach in his community. The family was apparently returning home from dinner. The little boy was going to spend the night for the first time at his aunt and uncle’s home, La Meuse reported.

 

http://news.yahoo.com/los-angeles-sues-jpmorgan-over-mortgage-lending-practices-182614775--sector.html

By Jonathan Stempel 12 hours ago

(Reuters) - The City of Los Angeles has sued JPMorgan Chase & Co , accusing the largest U.S. bank of engaging in discriminatory mortgage lending practices that drove up foreclosures among minority borrowers. The lawsuit on Friday is part of the second most populous U.S. city's effort to hold mortgage lenders liable for lost property tax revenue caused by falling home values, and the cost to maintain vacant foreclosed properties.

"LA continues to suffer from the foreclosure crisis - from blight in our neighborhoods to diminished revenue for basic city services," City Attorney Mike Feuer said in a statement. "We're fighting to hold those we allege are responsible to account." Los Angeles in December filed similar lawsuits against Bank of America Corp , Citigroup Inc and Wells Fargo & Co , the next three largest U.S. banks. Wells Fargo on Wednesday lost its bid to dismiss its lawsuit. Cook County, Illinois, which encompasses Chicago, has filed similar lawsuits against Bank of America and HSBC Holdings Plc , while Providence, Rhode Island on Thursday sued a unit of Spain's Banco Santander SA . Baltimore, Cleveland and Memphis, Tennessee are among other cities to bring similar cases against banks. Atlanta-area counties have also sued HSBC.

 

http://www.prnewschannel.com/2014/04/03/jury-to-hear-70m-lawsuit-vs-bank-of-america-after-3-year-battle/

 

Jury to hear $70M lawsuit vs. Bank of America after 3-year battle Behind the gates and under the royal palms of Palm Beach

 

April 3, 2014 / PALM BEACH, Fla

 

David prevailed over Goliath with the stroke of a judicial pen when a Florida judge affirmed author TJ Fisher’s right to a trial by jury in her landmark case against Bank of America (BofA) (NYSE:BAC). Fisher’s BofA $70 million case filed in April of 2011 had been mired in years of lengthy delays and court proceedings associated with the behemoth financial institution’s multiple legal filings seeking to strike her jury demand. Attorney Patrick W. Maraist, Esq. represents Fisher.“I am overwhelmed with relief and gratitude the case can now move forward,” Fisher said Monday. “This has been a long journey, with a war of attrition waged against me. Fisher, who is championed by a sole practitioner, adds, “I’m fighting against the unlimited resources of Bank of America.

 

To receive a jury trial against one of the country largest banks is a rarity. The bigger the bank the more likely the bank will prevail in depriving private individuals of their Seventh Amendment right to jury trial in civil cases where a plaintiff seeks a remedy for a legal injury. Constitutional rights are removed through mandatory arbitration, a “judicial referee” or bench trial — thus effectively taking away legal power and the right to a day in court. Conversely, U.S. Government agencies, attorneys general offices and the United States Department of Justice (USDOJ) generally obtain jury trials when filing civil lawsuits against financial institutions.

 

“There may be a sense that financial institutions have gotten away with a lot and maybe now is the time to catch up,” said Daniel Hurson, a former U.S. prosecutor and SEC lawyer. Fisher is a member of the Writers Guild of America (WGA), Directors Guild of America (DGA), Producers Guild of America (PGA), Dramatists Guild of America (DG), Authors Guild (AG), National Academy of Television Arts and Sciences (ATAS), Screen Actors Guild (SAG), Actors’ Equity Association (AEA), and other professional guilds and organizations.

DOWNLOAD LEGAL DOCUMENTS - See more at: http://www.prnewschannel.com/2014/04/03/jury-to-hear-70m-lawsuit-vs-bank-of-america-after-3-year-battle/#sthash.Z9fZsxYg.dpuf

 

 

 

 

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