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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: Government is condoning MASS Mortgage FRAUD in Australian Banking System. Trust is Destroyed at NAB

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Our hearts go out to NabbedNanny who has fought so bravely against the banks.  She is one of the earlier ones whose case was thrown out by FOS without a proper determination or investigation.   She joined our group after her case was closed.  She had none of the evidence we have since gathered.   We are apposing such treatment of consumer complainants and the very reason Australian Security and Investment Commission chiefs will be once again hauled into Parliament to explain TO THE SENATE why they have failed so dismally as a corporate regulator during the past tumultuous 14 years.  Chairman Medcraft will be brought to book.

Nan's phone lines are cut off now.  She has had to explain to their 5 year child why his memories of fun times with Nan will be tarnished forever.  Like the children of the depression, he will never ever trust a banker again through his entire life.  He knows what fraud is at the age of five!

He will remember the theft of Nan's home happened because the Banksters' appetite for greed and their invention/adoption of SKIPPY the CALCULATOR has led to his Grandmother losing her home, a place of safety where all the other grandchildren remember happy early years with Nan.

One story like this would be eyebrow raising but tens of thousands of similar stories coming from all major banks in Australia is catastrophic.  Grandparents in the hundreds are moving away from the cities and out to the country towns and away from their immediate families.  That's good for country town progress but is hardly good for young children left behind.

Every time this youngster goes to the city CBD with his parents he will see the big NEON sign "NAB" and know that is the bank who set up a system that destroyed his Nan's life in her later years.  He will never forgive that bank.  How do I know?  Because old timers tell me they remember clearly, the "bad to the bone banks" of the 1920's and 1930's.

Banks profiting from FRAUD in Australia and then be rewarded by having owners of homes thrown into the streets .  Governments turned this into an organised crime industry, preying on Grandparents.  Banksters capitalize on the success of nefarious activities....what is going on here?????   This email address is being protected from spambots. You need JavaScript enabled to view it.

 

PS:  Rosie is writing a book and we hope it gets published sooner rather than later.  We hope she finds a publisher and the book goes feral and gives her enough funds to establish.  We hope she writes her story in submissions to Parliament.   She has the strength.  This experience has made her stronger, given her courage and we are all right behind her.  db

 

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  • doyla66
    doyla66 Sunday, 30 June 2013

    NABbed Nanna's plight will pull at many heartstrings. Lets hope the Senators have theirs pulled too. Shame on Medcraft he does the dirty on Americans then follows through with Australia.

  • doyla66
    doyla66 Sunday, 30 June 2013

    It's a bloody disgrace what the thieves have done to Nanna, and FOS should be
    ashamed of themselves. Medcraft should be horse whipped and have all his assets
    confiscated for abetting corruption.

  • doyla66
    doyla66 Sunday, 30 June 2013

    Duped

    Well hopefully as I see it Maria B, the law is implying if they knew (ASIC),is aware of fraudulent behaviour and does nothing but try to protect the banks, they are guilty of the crime and jail time should be awaiting - 14 years. Pack some clean pyjamas Medcraft and Kell but then again you wont need them, it's nice and cosy where you will be going and people in there like pricks like you two.

  • doyla66
    doyla66 Sunday, 30 June 2013

    Hang in there Nanna. Go to the media and get the word out to as many as possible. TV FACEBOOK ETC are a wonderful way to let all now of NAB,s fraudulent and deceitful methods.

  • doyla66
    doyla66 Sunday, 30 June 2013

    The government should suspend any Bank's credit license until they comply with Law and Australian society's standards of decency and fairness.
    This applies particularly to NAB who have defied the request to stop repossessing homes.
    APRA must raise the standard expected in Australia for bank conduct, increase the capital holdings requirements to Austrailan standards and BAN THE LOAN SERVICE CALCULATOR. No excuses, no phase in phase out periods of adjustment and all the rest of the legal shades of grey that result in so much injustice for consumers.
    FRAUD IS FRAUD, Kevin Rudd, Tony Abbott and all the rest of our parliament: DO IT NOW and return both Nanna's and Gypsy's homes. To fail in this duty to Australian citizens is to fail utterly.
    FREEZE MORATORIUM ON ALL HOME REPOSSESSIONS NOW.

  • Denise
    Denise Monday, 01 July 2013

    Yes indeed Lisa, we should all be lobbying Prime Minister Kevin Rudd to freeze licences on all bank who have engaged deliberately in sub prime lending, handing out loans like smarties knowing the ability to afford was not present. This was no mere accident. Those caught were targeted by these tyrants of finance. [email protected]

  • doyla66
    doyla66 Tuesday, 02 July 2013

    From one Nanna to the other, my heart goes out to you. How do you explain this to a five year old? I do hope that this will prompt many members to write to Kevin Rudd and your own MP plus any others that come to mind. Let us flood their inboxes with these requests for a Royal Commission and maybe they will do something. No more nannas can afford to go through this let alone the ones that are young enough to start again. Banks need to be pulled down and into gear.

  • doyla66
    doyla66 Tuesday, 02 July 2013

    Government involvement

    If the government bought RMBS to bail out the banks then they must have been aware of the entire situation. That puts them in the same boat as Asic and the banks , does it not? Especially as they would have been aware of what happened in the US and why.

  • doyla66
    doyla66 Tuesday, 02 July 2013

    Australian Government a "toxic waste spill", not waiting to happen!

    AustGovt installed a "master architect" of RMBS house-of-cards in ASIC chair Greg Medcraft who cost US taxpayers $11billion alone.

    Of course Medcraft the great 'pretender' was put in charge of our, in name only, 'regulator" to willingly "turn-a-blind-eye" to rampant-mortgage-fraud actively peddled by 30bank$ters onto the unwary ARIPs = Asset-Rich-Income-Poor, but bank$ters' applied acronym to mean-- "All (clients/mortgagors)-Rest-In-Peace".

    The wayward Govt then went and purchased, thru its AOFM program, $15+billion of RMBS "toxic-junk-home-mortgages", ---and now is frantically (but quietly) 'off-loading" it's RMBS "toxic-waste-dump" onto unsuspecting European investors(et al) which brings new meaning to Sovereign-Risk, and when the penny drops, the AustGovt's reputation, indeed Australia as a whole, will be considered equally "toxic" on the lips of all overseas investors, so far as doing business on our terra-firma: How do you quantify that loss of reputation?

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