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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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Code of Banking Practice Ignored by 25 Members of ABA

Posted by on in Bankers A Law Unto Themselves
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25 Provision of Credit

25.1 Before we offer or give you a credit facility (or increase an existing credit facility), we will exercise the care and skill of a diligent and prudent banker in selecting and applying our credit assessment methods and in forming our opinion about your ability to repay it.

**Just a reminder of how the BANKS did not apply this very simple rule **

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  • doyla66
    doyla66 Friday, 24 August 2012

    Banks and Brokers seemed to believe that if they got people to sign the documents -some how they are not responsible or liable anymore of it's content. I like it to the analogy of this scenario- who is responsible and who is explioting for profits - the drunk at the bar who keeps requesting drinks or the barman who keeps giving them to him? Banks were the enablers and they were the profiters too!! Without consumers - banks WILL not exist and make there absurb profits!! So to keep this cycle going - they have to find more sneakier ways to rope people in to do loans. As stated before - they are predators of the most evil type and I am glad that the high court rulings of recent are exposing them and making them responsible!!

  • doyla66
    doyla66 Saturday, 25 August 2012

    Love your analogy, JJ :

  • doyla66
    doyla66 Friday, 24 August 2012

    Banks and Brokers seemed to believe that if they got people to sign the documents -some how they are not responsible or liable anymore of it's content. I like it to the analogy of this scenario- who is responsible and who is explioting for profits - the drunk at the bar who keeps requesting drinks or the barman who keeps giving them to him? Banks were the enablers and they were the profiters too!! Without consumers - banks WILL not exist and make there absurb profits!! So to keep this cycle going - they have to find more sneakier ways to rope people in to do loans. As stated before - they are predators of the most evil type and I am glad that the high court rulings of recent are exposing them and making them responsible!!

  • doyla66
    doyla66 Saturday, 25 August 2012

    All of my loans show very clear evidence of the failure of the lender to exercise care and skill of a diligent and prudent banker.
    It was the lender's choice to disregard the evidence of income available and provided at the time of both applications.
    My banks were way more interested in getting as many loans as possible on their books any way they could.
    Banker competition gone mad - no consumer warnings going out to borrowers that I could see over the last decade.
    Negligence by government, regulators, banks, non-bank lenders, bank staff fudging the figures through the loan servicing calculator rather than reading the evidence of real income.
    My message to all banks: Extinguish the fraud loans, hand back the title deeds now and put some effort into complying with your own Code of Conduct so more Aussies and Kiwi don't have to go through this financial stress thanks to your greed and illegal conduct.
    ROYAL COMMISSION INTO BANKING NOW - BRING IT ON!

  • doyla66
    doyla66 Saturday, 25 August 2012

    Extinguish the fraud loans, hand back the title deeds now and put some effort into complying with your own Code of Conduct

    EXACTLY OUR MESSAGE TOO!...

  • doyla66
    doyla66 Saturday, 25 August 2012

    "ineffective from the time it was made", & it was "made-up" in banking boardrooms to defraud Australians of their assets!!!! Contract "Void" vis a vis "Voidable" = Royal Commission Needed ASAP!!!

  • doyla66
    doyla66 Saturday, 25 August 2012

    Bring on the ROYAL COMMISSION and expose the truth that there has not been TRUTH in lending.

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