How did our Corporate Regulators fail consumers so spectacularly?  Where is consumer protection?  BFCSA Members have discovered Bankster Protection Rackets instead.  Our Members are the proof of wide spread FRAUD and document abuse.  For over 20 years more than 30 Australian Banks/Lenders devised a dastardly plan to lower banking standards by approving  sub-prime loans for over 20 years under the "watchful eyes" of our corporate regulators."

Lazy Governments and suspicious public servants developed policy that stated: "consumers need to look after themselves."  Their reaction was to hide everything under the regulatory carpet and pray no-one comes along and asks for a copy of the LOAN APPLICATION FORM.

There is no doubt now that a BANKSTER CARTEL was in full swing.  Not, only were lenders hiding the foul smelling evidence, they were actively spruiking for more customers via the Broker Channel and at the same time setting broker up to take the blame when the entire Bankster Bubble burst.

Australian Banksters developed a corridor for new customers to be sucked into the vortex of this gran plan criminal scene.  Suddenly, everyone that could apply for a loan but due to low incomes could only qualify for a small loan to buy a donger or shed, in a  rising property market, were approved for loans five times the affordability threshhold.  How could this happen?  Banksters developed Skippy the Computer and a wicked program to entice, pensioners  first home buyers and average workers into the sham banking grand plan.

Had no-one read S 25 of the Australian Bankers Code: affordability is king for prudent lending practices?

Banksters targeted vulnerable people as a cartel.  

Not one Bank placed a simple sheet of paper in the window which read: 'WE DO LOW DOCS HERE...."

Not one Lender!  Each Bank acting as one, chose to use their own clever mechanism: the shared Broker Channel.  This method was ten times more expensive for consumers and Governments knew this.

The loans were to be approved by a computer and CREDIT ASSESSORS merely had a check list for minimalist documents under the "less is best" policy.  The victims of these sub prime loans were never given a copy.  Now those same documents are coming to light thanks to BFCSA researchers.

Not one clean Loan as at 14th March 2013:  No Banker comes to the table with clean hands.

Our Community is growing.  We already number far ahead of the Bankster Community - the shameless greedy ENGINEERS.  We KNOW that there are no clean loans.  How big is this scandal?  Watch this space.

JOINS US AND SEE FOR YOURSELVES.   -  Hit the Membership button and support our efforts.  $50 pp annually, must be the cheapest club in town. 

There are people enjoying their saved homes today because of the collective sum of our efforts. 

Our budget is slightly lower than ASIC at $400 million or FOS at $34 million or APRA's $200m and then there is the ACCC, AOFM, RBA and the FCA at $1Billion plus.  

Just remember those who were the root cause of the Great Depression and why our Great Grandparents would never ever trust the Banks or the Regulators.  Banksters reaped millions and formed massive dynasties that have lasted 100 years, whilst citizens were sent into decades of poverty, only to have later generations bilked in the same way.  BFCSA Members believe in saving the future for our children - the next generation and beyond. 

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