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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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GREENS need to do more homework

Posted by on in Political Blindness
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Some of our politicians have not been properly briefed on the issues surrounding bank fraud and the possibility of 100,000 families to be reallocated to TENTS in The Alice or NAURU!!!

Dear Consitituent,

The Greens MPs have frequently raised concerns about various aspects of  the banking system, and advocated changes to it, and you will find many

examples of this at http://adam-bandt.greensmps.org.au/search/node/banks.

It is clear that your concern relates to events surrounding a particular transaction involving you and your bank. The a Royal Commission is a

significant and expensive exercise and it is difficult to see how it would be justified in such a situation - particularly when there are other

remedies open to you to air your concerns.

Regards

 

 Office of Senator Christine Milne

Leader of the Australian Greens

 

Now how would you rate the quality this response I wonder?  Sounds like a NO to a Royal Commission!

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  • doyla66
    doyla66 Tuesday, 21 August 2012

    Copy of letter sent to SENATOR MILNE.

    Dear Senator Milne,
    Re : ROYAL COMMISSION into the fraudulent action of the Banking & Finance industry.

    Your assertion that there are other remedies open for people to take - is not quite true.
    We have written to ALL of the so called other so called remedies i.e Regulatory bodies to ask them to help remedy our situation-
    ASIC, APRA, ACCC, The RBA, the Office of Fair Trading & The Financial Ombudsman Service. They were ALL ABSOLUTELY USELESS, and all of them tried to make out that it was not their responsibility to take any action against the banks.
    The FOS did finally agree to investigate the case, it took them 3 YEARS, and they were so blatantly biased in favour of the Bank, that we thought that they had been bribed, such was the level of their bias or incompetance.

    We must have a ROYAL COMMISSION immediately into the fraudulent activities of the banks.

    We too have been conned & deceived by the COMMONWEALTH BANK & Mortgage Broker using FRAUDULENT Loan Application documents, in both 2005 and 2007.

    This is a common business practice used by the Commonwealth Bank of Australia
    where they corruptly lend money using grossly falsified Loan Application Documents (that the client's have never seen),
    & conspiring with Mortgage Brokers (that the clients has never met), & going through Finance Companies (that the clients didn't know about), with the sole aim of the Bank being able to take the clients home.
    (Asset Lending).

    Then the bank tries to cover it all up, even refuses to supply copies of the Loan Application Documents,
    - Quote: " We can't give you copies as it would leave the bank open to prosecution."

    After 3 years of trying, I have all the other documentation, including the falsified Loan Application Documents.
    They were fraudulently falsified in our 2005 loan and even more so in our 2007 loan re-finance.
    Fortunately for us they were dumb enough to send us the 1st set of grossly altered documents - by mistake!

    I have also discovered that the bank (or the broker) even used FAKE Low doc declarations that they photoshopped/ cut & pasted together to get around the normal loan policies! I also have copies of these.

    One of the most disturbing things about this is that the Financial Ombudsman Service (FOS) -who are supposed to protect the public from illegal or unethical banking practices - has decided that : even though the bank may have known that the documentation was false - THE BANK WAS ENTITLED TO RELY ON THAT DOCUMENTATION!

    We were actually advised by one of the FOS Investigating Case Managers who realised that important matters in the investigation were being overlooked in favour of the bank, to go to the State & Federal Police to make an official complaint against them for fraud, which is what we will be doing shortly.

    We are now at the stage where we have our Local MP backing us on this and we are currently talking to our State MP, before making an official complaint. We also have the full support of Mr. Russell White, of the National Federation of Independent Business.

    regards
    Wayne & Carol Styles
    (07) 5520 2071

  • doyla66
    doyla66 Wednesday, 22 August 2012

    Excellent response Wayne & Carol - from a CONSTITUENT ;) (gotta love their impersonal copout crap speak they so readily serve up!)
    I was born & bred in Alice Springs & believe me, you do NOT want to be living in a tent up there - ever . . .

  • doyla66
    doyla66 Wednesday, 22 August 2012

    Great work Wayne & Carol. Reality bites. We can direct Australia policy - one piece at a time if necessary.
    Everyone enlist your local MPs to your support and to the support of BFCSA.
    So many Australians and consumers around the world are supporting what we're saying.
    Why?
    Because we're telling the truth.

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