GLOBAL SUB-PRIME CRISIS

BANKILEAKS

Click on our Secret Library of Evidence ------>

    BANKILEAKS Secret Library

Loan Application Forms (LAF's)  

    Bank Emails to Brokers  

    Then Click on 'VIEW NOTEBOOK'

Join us on facebook
 

facebook3           facebook2 

BFCSA
MORTGAGE
DISTRESS SOS

What BFCSA Does...

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.

Visitors

Articles View Hits
759479

Whistleblowers' Corner!

To all mortgage brokers, BDMs and loan approval officers! 
Pls Call Denise: 0401 642 344 

"Confidentiality is assured."

Cartoon Corner

Lighten your load today and "Laugh all the way to the bank!"

Lee Doyle

Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

Click on the Cluster Map.

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Login
    Login Login form

Cop v bank - going into battle against the CBA

Posted by on in Bankers A Law Unto Themselves
  • Font size: Larger Smaller
  • Hits: 2615
  • 10 Comments
  • Print

He's the police officer used to taking on criminals and being faced with tough situations, but Sean Mcardle is tackling something that would scare the toughest of men — he is going into battle against the Commonwealth Bank.

Video of program: http://aca.ninemsn.com.au/article.aspx?id=8528557


Commonwealth Bank statement:

Mr McArdle commenced litigation against CBA. CBA denies the allegations made by Mr McArdle and is defending the claim. As Mr McArdle has alleged that he does not have to repay his loans, CBA has lodged a cross-claim to protect its legal position.

As these matters are currently before the Court, we do not consider that it is appropriate to go into further detail concerning the legal proceedings.

It is important to your story to note that the Commonwealth Bank is the only bank, of all the banks involved, to have established a Resolution Scheme which has enabled almost 2000 individuals to resolve their claims.

Last modified on
Rate this blog entry:

Comments

  • doyla66
    doyla66 Thursday, 06 September 2012

    Another good one Lisa

  • doyla66
    doyla66 Thursday, 06 September 2012

    Thanks, John :)

  • doyla66
    doyla66 Thursday, 06 September 2012

    Sean and Denise should join forces together!

  • doyla66
    doyla66 Thursday, 06 September 2012

    Yes Marianna, Sean's group are also hoping for a Royal Commission into the banks.

  • Denise
    Denise Thursday, 06 September 2012

    2000 satisfied with CBA's resolution scheme??? I doubt it. Tell those who settled to join us....we will tell you the truth and show you how to reverse CBA's little secondary plot!!!

  • doyla66
    doyla66 Friday, 07 September 2012

    That 'Resolution Scheme' will be their in-house dispute resolution process whereby it will be very heavily weighted in favour of the CBA. Those poor suckers will have been ground down to the point of 'take it or leave it' with no other available options being spelt out.

  • doyla66
    doyla66 Thursday, 06 September 2012

    Did 'light-fingers' Mr CBA fully disclose the LAF fraud perpetrated & fully compensate? Naaaada!

  • doyla66
    doyla66 Friday, 07 September 2012

    CBA Resolution scam

    Dear Ms. Brailey and all.
    My Name is Sean McArdle and it is my privilege to be a lead litigant against banks involved in the demolition of Storm Financial and one of the people trying to support and represent those good Australians disaffected by the Banks actions in this matter.
    Thank you for your support of myself and our people.

    Ms. Brailey I note your scepticism in relation to the 2000 people accepting the resolution scheme with the obvious inference being it was fair and equitable. May I provide some information about the scheme. You are right to be sceptical. It is the equivalent of being kept alive but with no quality of life. Just because some (certainly nowhere near 2000) people accepted it doesn’t mean they are happy about it. Far from it in fact.
    It was devised by the CBA and Damien Scattini a Slater and Gordon lawyer who "Ambulance chased" the devastated clients at the commencement of this matter. It was sold by Scattini using half truths and fear. The rules for this process where devised by the CBA and presented in a legal document that was just under an inch thick. It incorporated a quasi legal process involving Judges employed by the bank to rule on cases brought before them. It was disingenuous in that the rules prevented decisions having any overriding impact on the banks final offer to a client. Further it placed clients in the position of eventually having to make a decision to accept the offer or starting all over again with a new lawyer as well as having a moratorium on their repayments ceased. Meaning they would need to start finding payments for loans on the investments collapsed by the banks actions. The offer's which were universally advance to clients along with strict confidentiality contracts amount to the following.
    90% of the equity left in the client’s portfolio at the bottom of the market after the bank had taken their 90% margin call. WOW 90%!. No wonder the bank is spruiking about their wonderful resolution scheme. So what does that formula actually mean? If the client invested $200, the market dropped approx 50% in 2008 making it worth $100 (which is no problem, that's the market) then CBA would take their 90% margin call, leaving $10 and the bank’s resolution offer amounts to 90% of that $10. Resolution $9 after an initial investment of $200 = 4% give or take. No accountability for the banks wrong doing. No admission of guilt or responsibility.
    The one thing that may help clients that took this offer is a "Carve Out Clause". This clause says that if ASIC achieves a better result via the courts on behalf of a client then all clients will have their resolution payout topped up to the amount achieved by ASIC. Of course ASIC weren't a party to the agreement and representing clients is not the ASIC function. It has taken considerable effort to get them to pursue this matter. I am also pained to point out ASIC’s track record stinks.
    I am sorry if this is too much for a blog like this but thought you may be interested. Please know how much your support means to myself, my family and all Storm Clients who have not only suffered the financial losses but also endured public ridicule labelling them as stupid and greedy. Very very untrue!

  • doyla66
    doyla66 Friday, 07 September 2012

    Go Storm Financial Victims!! We are all behind you with support, good thoughts and well wishes..!!

  • doyla66
    doyla66 Friday, 07 September 2012

    Hi Sean, all the best. Royal Commission Petition would assist all "deceived" aggrieved (former) "Storm Investors".(ps) Same "ambulance chaser" aforementioned; I dragged him kicking 'n' screaming before Bris' Supreme Court Registrar re 'Taxation Issue" (extortionate legal fees), boy was he peeved(chip on shoulder stuff). Of course these were the days any conscience-ous objector to bring-on alleged unlawfully gouged legal fees directly before Supreme Court Registrar (they stopped that).

    Nail them to the spot marked X

    regards A

    I'm sure they're "extrapolating" details from this site (daily now) to identify behind the alias. .I've ensured they know who I am. . . "A proud BFCSA Member No XXXX jointly & severally seeking justice for all against the gang of 36 > 'banksters' = wanker-gangsters + / x 36 dummy contrived pretend trustees".

    Good luck on behalf of all BFCSA(inc) members. I duly believe the bankster's collective - racketeering pulse rate would not adequately pass muster at any certified "lie detector" monitor, if you know what i mean!!!

Leave your comment

Guest Monday, 30 November 2020