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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: Ex CBA Chief David Murray prefers Bad Banking Standards in RISK Weighting! FITCH and BFCSA Members agree.

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Fitch ratings agency calls for more data on risk.  BFCSA agree RISK explained by Banks before the Loan Application Form is presented for signature.   Borrowers and Investors have been complaining about lack of risk disclosures for years. Why differing RWA's and lack of uniform disclosure?

EVERYONE KEPT IN THE DARK when dealing with Banks.  Trust has been eroded and whose fault is that David? All you had to do was insure enough information was given at the beginning: PRE DECISION to borrow or invest.  Your turn to please explain..........................No informed decisions were possible!  Australia desperately needs a Federal Consumer Protection Bureau to flush out these activities.  Trust banks?  I think not.   This email address is being protected from spambots. You need JavaScript enabled to view it.

 

GLOBAL ratings agency Fitch has called for banks to give investors more information on how they assess risk, warning that different modelling around the world makes it hard to compare institutions and uncover hidden dangers.

As the government's inquiry into the financial system ramps up, Fitch this week expressed concern about the lack of transparency in banks' risk appetite and urged them to disclose risk-weighted assets (RWAs) using Basel's standardised approach.

Fitch's concern came as Credit Suisse analysts yesterday warned that the inquiry, headed by former Commonwealth Bank boss David Murray, could recommend establishing minimum risk weightings for mortgages, potentially altering the competitive landscape in the $1.3 trillion mortgage market.

from     http://www.theaustralian.com.au/business/financial-services/fitch-ratings-agency-calls-for-more-data-on-risk/story-fn91wd6x-1226815342487#

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Guest Friday, 28 February 2020