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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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Denise Brailey

Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

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BFCSA: APRA wakes up from deep two decade slumber party under Dr John Laker. Enter Wayne Byres.

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Remember when APRA chief told the Senate Inquiry into Banking POST GFC August 2012 "no systemic issues in banking!"  So everyone waking up from slumberland are we?  I will notify the long suffering consumers caught in these diabolical frauds in the Banking Sector.

Bring on the Royal Commission into Banking as the regulators are dragged screaming and kicking into the sunlight?  Am I being too harsh here?  Ask the overpaid Dr John Laker if he has lost his home?

Wakey Wakey.............................

Banking regulator gets tough on home loans

Banking and Finance

Date  July 18, 2014

The financial regulator has taken its concerns about the housing market to the boardrooms of Australia's biggest banks, in recent months asking chairmen to spell out how boards were managing lending standards responsibly.  Wayne Byres, the new chairman of the Australian Prudential Regulation Authority, on Friday gave fresh details on how the regulator has sought to rein in the most aggressive lenders in the $1.3 trillion mortgage market.In his first public comments since starting the job this month, he said that in the past month boards of the "larger institutions" had provided details to APRA about how they were monitoring risks and "keeping on top of" lending standards.

APRA had requested the direct input from boards as part of its campaign to prevent the housing market from overheating in an environment of record-low interest rates.  "We’ve also been getting from the larger institutions a response from each of the boards, signed by the chairman of each of the institutions, about how the boards themselves are monitoring these risks and how are they keeping on top of the lending standards shaping the portfolio," Mr Byres said in Canberra. Mr Byres said the banks' responses gave him "confidence they have certainly taken the issue seriously.”

Since APRA applied the pressure, which also included new guidelines on mortgage lending, published in May, the most aggressive banks had curbed their activities, he said.  “What we have seen is some institutions who were at the forefront of the competition and with slightly more aggressive lending standards scaling those back. So I think it’s had its desired effect and certainly raised the profile of it among boards and institutions,” he said.  They are the latest comments from a top regulator to highlight the risks in the mortgage market, which accounts for 66 per cent of all bank loans.

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