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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: Banking controlled by Secret Men's Business. Robb refuses to confirm bonafide of leaked document

Posted by on in ROYAL COMMISSION URGENT
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http://www.businessspectator.com.au/news/2014/6/20/financial-services/robb-quashes-bank-deregulation-reports

Robb quashes bank deregulation reports

  • AAP
  • 20 Jun, 11:01 AM

The Abbott government has described reports of secretive trade negotiations that could lead to fundamental deregulation of Australia's banks as a massive union beat-up, while the opposition has called on the government to defend the four pillars policy.

WikiLeaks has released a draft of the financial services section of the Trade in Services Agreement (TiSA) being negotiated by 50 countries.  The leaked document suggests foreign banks would be given greater access to Australia, local bank accounts and financial data could be transferred overseas, and foreign financial and information technology workers would be free to flood the workforce.

The Financial Sector Union is concerned the negotiations could lead to a wave of job losses.  But Trade Minister Andrew Robb said Australia wanted to open new opportunities for its services sector, especially in the growing Asian markets.  Stories about the trade negotiations undermining the "four pillars" banking policy were a massive beat-up driven by unions and anti-trade groups, he told AAP in a statement.

"We are certainly not going to enter into any agreement that undermines our world class domestic banking and financial services sector. Why would we?" he said.  "What we are seeing is just the latest instalment of the reprehensible campaign being waged by anti-trade groups to undermine our efforts."  But Mr Robb wouldn't confirm whether the leaked document was legitimate.

FSU national secretary Leon Carter said Australia's regulations sheltered the finance industry from the worst of the global financial crisis.  "In what appears to be a case of collective amnesia, we now have a government willing to capitulate to the demands of our big banks and financial services lobbyists at the expense of jobs, data security and the best interests of customers," he said in a statement.

 

Mr Robb said the union failed to mention the TiSA negotiations started under Labor.  The Australian Greens warned deregulation could allow foreign corporations to dictate Australian laws, opening the country up to litigation and posing a risk to sovereignty.  "It would have profound and chilling ramifications for this country," Greens senator Peter Whish-Wilson told reporters...............read more   http://www.businessspectator.com.au/news/2014/6/20/financial-services/robb-quashes-bank-deregulation-reports

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