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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: "Australia has a debt problem - we don’t have enough, says National Australia Bank's chief executive"

Posted by on in Bankers A Law Unto Themselves
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More debt needed for investments: NAB chief

Date
August 1, 2013


"Every [foreign] person that's been coming here in recent weeks, and I see another one reported today, is sort of saying what a fantastic economy," he said
"Speaking at a business lunch in Sydney, Mr Clyne criticised the level of debate about debt in recent times, calling it "very immature".

Read more: http://www.smh.com.au/business/more-debt-needed-for-investments-nab-chief-20130801-2r1k6.html#ixzz2qhTo42xq

 ED:  If Mr Clyne handed over all his wealth to the victims of NAB and then loaded HIMSELF and family up with DEBT FOR THIRTY YEARS, as he has surely done unto others,  then he has a right to criticise............................So far he has not earned the right to comment, he has only earned the wrath of ex NAB customers!

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  • doyla66
    doyla66 Wednesday, 22 January 2014

    Mr. Clyne it appears you are living in a bubble. You know me I have pleaded for help. You have wiped me like a dirty bum. I am a serial pest no doubt to you and the shonky Nab. I had the evidence and the facts but typically you took no notice. You dirty little lawyers puffed out their chests confident in the fact that Nab were protected. Nab have FOS in their grasp and squeeze the living daylights out of any within the organisation that dare to step outside the circle. It is so obvious that even a blind man could see this. Nab's credibility and crooked image still exists today. Mr. Clyne you are not helping the matter, you are showing yourself to be a big head with little knowledge of your own Nab's fraudulent activities.

  • doyla66
    doyla66 Thursday, 23 January 2014

    Was waiting for your comment Nanna! Looks like they all might need to do a lot of re-financing to earn some $$$ to pay a few fines - this from one of many sites on the subject of the big class action re fees starting with ANZ - Lawyers representing 43,500 Australian ANZ customers in a dispute over fees claim that the bank’s directors drove plans to charge the maximum amounts possible (from business insider).

    And this (from the herald sun) THE ANZ bank milked unfair penalty fees from customers to generate more profits, a landmark class action court case has heard. A series of high-level internal documents exposed the bank was deliberately charging "over and above" costs to protect revenue, the Federal Court trial was told. And the bank was worried about the potential "catastrophic" risk of losing tens of millions of dollars from regulation that would restrict fees to mere cost recovery. It discussed the possibility of jacking up other types of fees "to plug any revenue gaps", Michael Lee, SC, said. ANZ customers are seeking $57 million in compensation through a class action funded by Bentham IMF (Australia) Ltd. It is the first major bank to go to trial as 185,000 Australians try to recover $240 million from eight banks in the nation's biggest class action.

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