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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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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: Australian Banking Association Members: Thieves and Crooks: Suck It Up Gentlemen!

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Note from BFCSA Members:  You Sirs, at ABA and your wretched members have shown scant regard for S25 of the Banker Code re loan “affordability”, scant regard for Australian Citizens and their financial well-being and scant regard for Criminal Law.  Your members are stealing from investors, stealing from borrowers and also stealing from their Broker Agents.  Like thieves in the night (and day) you have no friends.  Your cartels and conspiracies to defraud using the ZIPPY MODEL will be the undoing of our banking system.  You should all be locked up.  Your doomsday is nigh.    

Suck it up Gentlemen!!!

Royal Commission into the Australian Banking System Urgent

ABA furious as ACCI compares banks to highway robbers

The Australian Banker’s Association (ABA) has lashed out at Australian Chamber of Commerce and Industry (ACCI) chief executive, Peter Anderson, following an article in which Anderson likened the major banks’ refusal to pass on interest rates in full to ‘highway robbery’.

Anderson made the statement in an opinion piece published by the Herald Sun late last week.

“The fine print of the February [RBA] decision lets us into an important trade secret. It tells us that lending risks for banks have narrowed and that funding conditions for financial institutions are more favourable…The unfavourable funding cost pressure that banks used as justification has eased. Keeping a portion of a customer’s interest rate cut on an on-going basis…is highway robbery.”

However, the ABA’s chief executive, Steven Münchenberg, says the piece demonstrates a ‘very poor grasp’ of business economics and monetary policy and that Anderson’s claims that banks’ funding costs have declined is ‘incorrect’.

“ACCI’s call is based on both false claims and a profound lack of understanding of how monetary policy works. This is very disappointing…As recently as last week, the RBA made it clear in its Statement on Monetary Policy that, relative to the cash rate, banks’ outstanding funding costs are estimated to have been broadly unchanged over the past three months.

Prior to that, he says the RBA was confirming that bank funding costs were elevated and not all of those higher costs had been passed on to customers.

“While we have seen some promising improvements in longer-term wholesale funding…that improvement in wholesale funding is having only minimal effect on banks’ overall funding costs.

Münchenberg says the ACCI has ‘consistently’ argued that banks should not pass on their higher funding costs to their customers and that the ABA would be ‘interested’ to know whether ACCI maintains this principle for all businesses – that they should absorb rather than pass on some of their higher input costs.

“ACCI has also shown a remarkable misunderstanding of how the RBA manages monetary policy. The RBA is concerned with the level of interest rates in the market, that is, how much households and businesses actually pay. The RBA uses the cash rate to influence those market rates and seeks to strike the right balance between economic growth and the containment of inflation.”

He says the RBA is ‘broadly happy’ with where interest rates currently stand and that, if it had wanted to see lower retail rates, it would have cut the cash rate at its February 5 meeting.

“The flaw in ACCI’s call for interest rate cuts is that, even if banks cut rates, the RBA would merely move the cash rate up until retail interest rates were back to where they are today.”

Petschler tells Australian Broker that Balance Banking will focus on a number of particular policy areas.

We have some specific issues we want addressed, like recognition of the mutual model in prudential rules, review of tax incentives and funding options.  But Balance Banking aims to bring more voices to the debate and allow a structured, long term look at bringing greater competitive pressure into our highly concentrated banking market."


Denise Brailey Comment:  Yes please Louise!  Borrowers and brokers have voices and documentary evidence of foul play by major lenders and 20 others or more.    When there is no level playing field everyone has to follow the same model or commercially perish.   Cheating in banking leads to a criminal behaviour becoming the norm.  Evidence shows we are way past that level.  Bankster heavyweights have gobbled up 80% share of the market in the biggest bank heist this nation has ever experienced.

If one Bankster is cheating it’s a CRIME

If 4 Major Banks are cheating it’s a CARTEL

If Regulators look the other way despite 2003 Reports it's CORRUPTION.

Our voices need to be heard.  Our evidence needs to be presented to a Royal Commissioner and Our Prime Minister and Leader of the Opposition must agree to a Royal Commission in a bi-partisan approach immediately.   Failure on their part to recognize fraud in the banking sector means more loans will be written and more homes lost five years later. 

Low Doc and No Doc loans must be banned immediately.  Shoving the mess under the carpet will not eliminate the STENCH OF ROTTING LOANS and crumbling lives.  These loans were geared to SELF DESTRUCT within less than ten years.

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  • doyla66
    doyla66 Monday, 18 February 2013

    "funding cost pressure that banks used as justification" WHAT COST PRESSURES?? All paid for with money that cost these banks nothing. WE KNOW THE TRUTH YOU BANKSTERS. PEOPLE POWER WILL BE YOUR UNDOING!

  • doyla66
    doyla66 Monday, 18 February 2013

    Highway robbery is correct. Banks are the modern day equivalent of thieving crooks and deserve to be treated in the same way as Highway Robbers - hung from the neck until dead!

    They try to steal as much as they can get away with.
    These thieving bankers have no integrity, no compassion for people or families & they do not care if whole families lose their homes, all they are interested in is profit - AT ANY COST, and getting their obscene salaries & bonuses.
    They are the worst parasites on this earth.

  • doyla66
    doyla66 Tuesday, 19 February 2013

    The blame for this mess goes entirely to our Political leaders and our Prime Minister who allow the banks to illegally foreclose on families who have not done anything to break the law.

    These spineless Politicians who have the power to stop all this house stealing, prefere to sweep it under the carpet and have these families tossed out onto the street while they have nice warm beds to sleep in at night and a lovely comfortable home with lots of money and no worries.

    I blame you Prime Minister, you are nothing but a cold hearted, unfeeling person and i do believe that you are aware of what is happening in the banking world, but you choose to do nothing.

    There are consequences that will follow for your bad choices.

    How about organising a one on one meeting with Denise so she can fully inform you of the truth and of the 1500 homes being illegally foreclosed each month in WA alone.

  • doyla66
    doyla66 Wednesday, 20 February 2013

    The RBA is a body corporate. RESERVE BANK ACT 1959 - SECT 76
    Attorney of Bank The Bank may, by instrument under its seal, appoint a person (whether in Australia or in a place beyond Australia) to be its attorney and a person so appointed may, subject to the instrument, do any act or execute any power or function which he or she is authorized by the instrument to do or execute. " We have all been too trusting of our Banking system!

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