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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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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.

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http://www.whocrashedtheeconomy.com/blog/2012/08/senate-briefed-on-subprime-crisis/   Senate Briefed on Sub-Prime Crisis: Day 1 Written by admin on August 8, 2012 – 9:51 pm If you have been following Denise Brailey, a consumer advocate and president of the Banking & Finance Consumers Support Association (BFCSA) or investigative journalist at The Australia, Anthony Klan you will know there is a potential Subprime crisis brewing in Australia. Over the past few months we have heard numerous stories of home loans being extinguished by the Supreme Court on the basis they were fraudulently provided to people who couldn’t afford them. In some cases, lenders provided loans to individuals that had been unemployed for some time, and almost always overstated the borrower’s income. Despite reassurances our banking system was best practice, hundreds of emails from lenders and brokers has surfaced demonstrating predatory lending practices. In June, one of these Subprime lenders appealed two Supreme Court rulings in the High Court...
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http://www.macrobusiness.com.au/2014/07/kohler-slams-the-super-gravy-train/ Posted by Unconventional Economist in Superannuation July 22, 2014 By Leith van Onselen Business Spectator’s Alan Kohler has written a stinging critique of Australia’s superannuation system, slamming the high level of fees due in part to compulsory contributions and the lack of price regulation: A chart in the Financial System Inquiry’s interim report shows that since 2009 the average super fund has increased in size from $1.5 billion to $3.5bn, while the average fee has fallen from 1.3 to 1.2 per cent.  That means the average fees received by each fund have doubled from $20 million a year to $40m.What better business can there be? Contributions are mandated by law so that about $100bn a year pours in; there are few variable costs (costs are mostly fixed); and there is no regulation of prices, so they are determined by competition alone.  Superannuation is the only utility that you are required by...
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