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
631478

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!"

BFCSA Blog

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
Subscribe to this list via RSS Blog posts tagged in ASIC DEMOLISHED LAWS
  Someone in Government should see that ASIC cannot profit from White Collar CRIME!!!  Unions upset and so are Consumer victims of Low Doc Lending and retiree victims of MIS scams....yes its corporate registry but all the complaints about directors and sham companies and lenders - registry must be a LIST of the elites of white collar crime who scarpered with billions of dollars of other people's money whilst ASIC played the fiddle!  Proceeds of crime? YES Indeed  This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.canowindranews.com.au/story/2304291/planned-sale-of-asics-corporate-registry-a-body-blow-to-latrobe-valley/?cs=9   Planned sale of ASIC's corporate registry a body blow to Latrobe Valley By Georgia Wilkins May 24, 2014,   In a nondescript office building in the quiet back streets of Traralgon in Gippsland, the financial documents of every registered company in Australia, big and small, are filtered, processed and filed away.  Until a company passes through this outpost of the Australian Securities and Investments Commission, digitally or on paper, it does not exist.  The processing centre, originally set up in the coal-rich...
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    What a joke more public owned utility selloffs, increase taxes for what "no Government services" and even less Government control
  • Denise
    Denise says #
    So true Sean - a sentiment shared by many. Since when did the Australian Government decide that major banks can (with impunity) l
  • doyla66
    doyla66 says #
    What is wrong with our moronic Government this attitude of sell off all public assets for short term profit to long term detriment
Hits: 2851 3 Comments
Rate this blog entry:
Continue reading
At loooooong last the bleeding obvious..........................................a glimmer of truth but no forgiveness from victims of ASIC's conflicted fuzzy thinking. ASIC admits conflict of interest shortcomings   inShare2           Written by James MitchellMonday, 12 May 2014   While he admits this is “not a nuanced version” of ASIC’s duties, Mr Kell said it does “capture our approach.” ASIC deputy chair Peter Kell has spoken candidly about the corporate regulator’s focus on disclosure, inability to weed out conflicts of interest and the impact on advisers. Speaking at the Centre for International Finance and Regulation conference in Sydney last week, Mr Kell said ASIC’s approach over the past 15 years has been “anything goes as long as you disclose”. “The role of disclosure is an underlying principle in structuring your regulatory requirements and regimes,” Mr Kell said. “That was central to the Wallis Inquiry regulatory philosophy and is central to...
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    As per usual, an abrogation of their duties. So the question becomes: what do they do then?
  • doyla66
    doyla66 says #
    “We have had a situation where too often disclosure has been the answer but we have forgotten the question.” Classic! It's a giant
Hits: 2492 2 Comments
Rate this blog entry:
Continue reading
ASIC blasts Commonwealth FP on YouTube     Written by Aleks VickovichMonday, 05 May 2014 http://www.ifa.com.au/news/13171-asic-blasts-commonwealth-fp-on-youtube   ASIC has called for stronger powers to take action against executives and managers in the financial advice industry, amid allegations of further wrongdoing by former CBA-aligned advisers. In a YouTube video uploaded this morning, ASIC deputy chairman Peter Kell spoke directly to the Australian public about the Commonwealth Financial Planning scandal, pre-empting an ABC TV report scheduled to air this evening.“Tonight the ABC Four Corners is doing a story on Commonwealth Financial Planning, or CFP, and the conduct of that company’s financial planners six years ago,” Mr Kell said. “I wanted to tell you what ASIC has done about CFP and the financial planning industry more generally; what CFP did six years ago was simply unacceptable.  Pete it was FRAUD......“Commonwealth financial planners were giving very poor advice to clients, driven by conflicted commission payments. This was part of a...
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    Shoulda, woulda, coulda .... when are ASIC going to start speaking plain Aussie English about exactly what is going to be differen
  • doyla66
    doyla66 says #
    Well said waiting for justice, what gives ASIC the right to protect the banking system and hierarchy from criminal intent using fr
Hits: 2363 2 Comments
Rate this blog entry:
Continue reading
Government designs laws to protect Consumers of superannuation products.  ASIC then waters down the effect of those laws to help out Industry mates.  See Coonan announcement 2004 and then ASIC Class Orders and complex changes = dog's breakfast.  Which dodo gave ASIC these powers? http://ministers.treasury.gov.au/DisplayDocs.aspx?doc=pressreleases/2004/053.htm&pageID=003&min=hlc&Year=&DocType=0   Helen Coonan Minister for Revenue and Assistant Treasurer 26 November 2001 - 17 July 2004 Media Release of 21/06/2004   C053/04  21 June 2004    EMPLOYEES TO CONTROL THEIR SUPERANNUATION The Government has successfully negotiated an agreement with the Australian Democrats to give employees the right to choose their own superannuation fund, Minister for Revenue and Assistant Treasurer, Senator Helen Coonan said following the Prime Minister’s announcement today. “The Government announced its intentions to provide choice of funds to employees in 1996 but for eight years employees have been denied this basic right,” Senator Coonan said. “Substantial national benefits will flow from the introduction of choice...
Last modified on
Hits: 2075 0 Comments
Rate this blog entry:
Continue reading
Australian Securities and Investment Commission ("ASIC"), our criminal Federal Corporate Cops had known that Major Banks were selling Low Doc Loans to Pensioners back in 2002 - 2005. They attended bank events, as I did, whereby even the Treasurer attended saying "look for new markets....ASSET RICH INCOME POOR ("ARIPs") = PENSIONERS.  I was front row for that gem!!!! ASIC are blatantly misleading Parliament and the Prime Minister and Joe Hockey Fed Treasurer are allowing ASIC to get away with these crimes against consumers of financial products and services. When is ENOUGH IS ENOUGH?  When do we as a nation, get to the point of saying: Action is necessary to clean yup the Banking & dodgy finance Industry?   The Chair of the Senate Inquiry into ASIC a valid question of me:  "Why didn't the respected Consumer Groups discover what you are saying?" Indeed.....Senator Bishop could see what was happening.....then along comes James...
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    "There comes a point you have to stop pulling people out of the river, get upstream and find out why they're falling in." - Desmon
  • doyla66
    doyla66 says #
    Yes should prove interesting reading and a good few pe-fabrications just might be picked up in those submissions knowing all we no
  • doyla66
    doyla66 says #
    If you Google Financial Inquiry submissions you will get an index of nearly 250 submission including a lengthy one from our esteem
Hits: 2096 3 Comments
Rate this blog entry:
Continue reading
Ah YES....get tough DUMB ASIC (dumb or corrupt - take your pick)..................brokers have no training, nor licence to give FINANCIAL STRATEGIES, nor to check credit apps!!!!!   The only reason they were employed was to save the bank from liability and have brokers blamed for something they clearly did not understand.  This banking scandal is now oozing out of the building in ASIC Melbourne....wake up you guys....we are on to you but your nightmare is just beginning.   There will be a judgement day for all those who engineered the plot to blame brokers for dirty toxic lending practices INTERNAL TO BANKS.  Smaller Lenders in order to compete had to use THE SAME SERVICEABILITY CALCULATOR - all in SECRET.    Our members will stop short of calling you swine.....we can leave that to another BLOG.  ASIC knows it can only hit on the obligatory ten brokers a year (I think that's...
Last modified on
Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    Nothing like doing some fast learning to work out an enigma. When I asked my bank manager for a copy of my LAF I was told (in pan
  • doyla66
    doyla66 says #
    When you think about it, EVERY loan involved the use of the Loan Service Calculator that altered the original borrower's data in a
Hits: 2405 2 Comments
Rate this blog entry:
Continue reading