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BFCSA
MORTGAGE
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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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Subscribe to this list via RSS Blog posts tagged in ANZ Ghosts
http://www.smh.com.au/articles/2004/03/12/1078594564439.html Currency cowboys' last stand March 13 2004 Despite repeated warnings from outside parties, NAB's fabulous four continued their wild ride largely unchecked, write Kate Askew and Anthony Hughes. The band of four thirty-something currency options traders - Luke Duffy, Dave Bullen, Gianni Gray and Vincent Ficarra - were so barefaced in their deception that it even grabbed the attention of their counterparts at rival institutions.  So concerned was ANZ Banking Group about the aggressive and volatile trading activity of the National Australia Bank's currency cowboys, it decided in March 2002 to approach the NAB directly. ANZ, like just about everyone else in the high octane world of currency trading, knew something was horribly amiss. There was talk of phoney transactions to cover huge losses and fraud on a massive scale. As it turns out, they were right.  The man given the task of dealing with the ANZ's concerns was Gary...
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http://www.smh.com.au/business/nationals-john-williams-calls-for-a-royal-commission-into-white-collar-crime-in-wake-of-commonwealth-bank-scandal-20140704-3bduv.html   Nationals John Williams calls for a royal commission into white collar crime in wake of Commonwealth Bank scandal July 5, 2014 Adele Ferguson, Ben Butler   The Nationals senator key to last week's bombshell report into fraud, forgery and a cover-up in the financial planning division of the Commonwealth Bank has  called for a royal commission on white collar crime as shockwaves from the debacle spread to other banks.  Senator John Williams said a royal commission should cover areas including the banks, Ponzi schemes and liquidators. ''Anyone who is robbing with a pen needs to be looked at,'' he said.  Senator Williams said he was sick of hard-working Australians or retirees having money they worked all their lives for lost due to widespread white collar crime.   He said widening the royal commission to include Macquarie Group, CBA, ANZ and phoenix companies and liquidators would send a message that...
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Nab's lending practices have been questioned writes:  Peter Hemphill.  Weekly Times. 4th June 2014. Farmers and grain traders are questioning whether Nab is Australia's most exposed rural lender.   For a number of prominent dairy, grain and fertiliser companies that have gone broke over the past four years, in almost all cases NAB was their lender. The latest in a relatively long list of rural failures is Brenton Strauss' Sapphire (SA) pty.ltd. which traded as River City Grain Co. in Victoria. It collapsed in March with NAB owed $5.2 million, some of which was not secured. Sapphire creditor Stuart Ellis questioned NAB's due diligence on the failed grain trader, particularly its examination of Sapphire's history of payments. One farming family claimed it enlisted NAB earlier this year to ascertain whether Sapphire was financially secure before selling grain to it for the first time as part of a due diligence process. The...
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Every wonder how much money banks are making on each credit card per year?  MEGABUCKS.  Time to stop the rot, but I can only do this with your assistance. If you are on a pension and have finished your working life with monstrous credit card debt....here is a BFCSA solution for you.............................. Dear Imprudent Banker CEO: Mrs Dxxxxx is 78 years old and lives alone.  As a lifetime worker she retired in 1999.   She exists on an aged pension and owns her own home.  She has been a loyal customer of Major Bank for some 52 years.  The only debt she has is a credit card debt of $14,000.  Had she had this small amount on a P & I mortgage the debt was extinguishable in the long term at a much reduced rate of pay.  The current credit card products has been designed as a “till death do us part,”...
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ABC:   Australian banks financing companies accused of land grabs, illegal logging and child labour: Oxfam By the National Reporting Team's Sam Clark Updated 10 minutes ago PHOTO: A sugar cane worker in Kampong Speu province, Cambodia. (ABC News: Sam Clark) MAP: Australia Leading Australian banks are financing companies accused of land grabbing, child labour and illegal logging, according to an Oxfam report released today. The report, Banking on Shaky Ground, identifies four cases in Cambodia, Papua New Guinea, Indonesia and Brazil where Australia's biggest banks have funded - directly or indirectly - companies accused of improperly or illegally acquiring land from local people. Oxfam's chief executive Helen Szoke said the big four - National Australia Bank (NAB), Commonwealth (CBA), Westpac and ANZ - are not living up to their image as global leaders in sustainable banking. "There is a gap between what the big four banks say they do and what they actually do,"...
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  • doyla66
    doyla66 says #
    It's pure evil to the point I feel ashamed to be an Australian for nobody in authority are prepared to put a stop to what they hav
  • doyla66
    doyla66 says #
    If banks are involved in illegal activity in Australia it comes as no surprise that they're involved in unethical conduct as well.
  • doyla66
    doyla66 says #
    Of course they'd have their dirty grubby money hungry hands into illegal and unethical operations as per usual. Any way of making
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Major Bank ramping up the bonuses to insider broker agents............more debt....................more loans......more misery.......Banks propping up hideous PONZI. Wait for Bubbles in property market to burst.   Its going to be very messy indeed.  Informant?  Little Birdie.....so Banks are desperately offering in house brokers big bucks. Major Banks will drift away from their external agents............................................. Problem with a PONZI - just like Bernie Madoff - you simply run out of people to financially ruin.  Can you hear the gurgle in the pipes?  These banks are unsustainable when promoting faulty products.  Have a look at potential domino effect on ASX..........serious stuff. This email address is being protected from spambots. You need JavaScript enabled to view it....
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  • doyla66
    doyla66 says #
    And if that incentive doesn't work, maybe Banks will advertise their fabulous introductory flexible fresh-as-a-daisy mortgage rate
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It sickens me the way the New Zealand regulator and the Ombudsman and Serious Fraud Office (whom I met and including the Minister in 2009) are mishandling these serious complaints of LOAN APPLICATION FRAUD engineered by the Bank Engineers, using the same SERVICE CALCULATOR as preferred weapon of choice and have been making obscene profits from criminal activity for more than a decade and a half.   Our regulators have all enjoyed over-bloated pay packets for playing in SNOOZEVILLE and continue this farcical denial campaign to Parliament.  "No systemic issues?"  Remember those words Greg Medcraft.  These victims lives are in tatters and you Sir can expect your brilliant career to become a down hill run from here on in.  You have been the Model of Cover-Up procedures by the Australian Securities and Investment Committee and then Chair to IOSCO to perhaps cover up there also. Australia has permitted it Banks to...
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  • doyla66
    doyla66 says #
    people have and still are being duped world wide.. Australian banksters the jig is up as more and more of us learn of your crimina
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Well this is no surprise to the victims of Bank Internal Mortgage Fraud and Maladministration in Lending by Major Australian banks.  Will they donate their parting bonuses to BFCSA and the victims of their SERVICE CALCULATOR heist as they run for the EXITS?   Leaving us on the bucket and mob brigade?   YES BIG clean up long overdue..................  Doing a bit of shredding Gail?  This email address is being protected from spambots. You need JavaScript enabled to view it. BREAKING: Big bank gets new deputy amid succession rumours Australian Broker News  http://www.brokernews.com.au/news/breaking-news/newsletter-185066.aspx by AB | 07 Mar 2014   Westpac has appointed finance head Phil Coffey to the newly-created role of deputy chief executive officer, amid whispers of when an announcement can be expected on the future of CEO Gail Kelly.Coffey has been the bank's CFO since 2005, with previous roles at the Reserve Bank and Citicorp.The fact he was promoted by Kelly – who has worked at Westpac for nearly two decades and shows no sign of...
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  • doyla66
    doyla66 says #
    And from 2000 till 2013 banks robbed aussies of their homes !!!! well done Peter KELLl, good job, you must be very proud of yourse
  • doyla66
    doyla66 says #
    You are so right Honesty - from wikipedia Kelly started work at the Nedcor Bank in 1980 as a teller but was fast-tracked into an
  • doyla66
    doyla66 says #
    Don't know where this reporter got his info from but Ms Kelly hasn't been working for Westpac for 2 decades,from memory she has be
  • doyla66
    doyla66 says #
    One big enigma indeed re the next move of Mr. Mike Kingfisher Smith! Is he planning to soon retire himself as per a few rumors I
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ANZ & Westpac have been undertaking  their own in house LMI since well before 2007 What you need to do is bury a level deeper than this. Look instead at the capital requirements for Lenders Mortgage Insurance providers (AGN 112 I think). Look at how APRA watered down the capital requirements on LMI providers post their consultation papers, with only 1 real LMI provider in the market.  Look at how much capital APRA makes LMI providers set aside for the riskiest of risky mortgages it insures for the banks.  Remember these are the mortgages that people take insurance out against because they don’t have the cash for a decent deposit.  Then the banks take this risky mortgage insurance and use it as a credit mitigant to offset the cost of their capital.  Talk about insurance leverage, on bank leverage, on an asset bubble ( housing ), geared to a leveraged commodity...
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  • doyla66
    doyla66 says #
    It is my understanding that they have already (very quietly) imposed a .1% levy,charge, tax (insert your own definition) on ALL sa
  • doyla66
    doyla66 says #
    Yes sneaky things going on behind backs and bail-in I believe selected from the menu so everybody better check out this site and c
  • doyla66
    doyla66 says #
    A terrifying proposition, the Australia Financial Industry leveraged to the max. Property build on a foundation of champagne bubb
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