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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 ASIC Inquiry October
If you have complaints against La Trobe, we want to here from you.  COSL are doing nothing regarding the ones that have already banked up.  I seem to recall reporting La Trobe for peculiar transactions in 1999, via letters to the ASIC Chairman, the Tas Law Society and ASIC Commissioner in Tasmania.   Hmmmmmm I more than likely have kept those files.  You probably have shredded yours. BFCSA Members are starting to appreciate the value of data-banking....................................the collective strength in swapping information, documents and also exchanging stories of experience with these lenders. Non Bank lenders are starting to explain they do not adhere to the Australian Bankers Code of Practice............well Mr O'Neill you ought to explain the HIGH RISKs of unregulated lenders and products to customers BEFORE they sign up with a non bank lender.  Same thing Treasurer Joe Hockey warned last year................................ Now that may not be profitable for business, but it...
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  • doyla66
    doyla66 says #
    I am in a battle with La Trobe. Does anyone have information on La Trobe such as copies of fraudulent documents that they could se
  • doyla66
    doyla66 says #
    we are with La Trobe latest with cosl is the end of the year. trying to get LMI forms to prove more altered figures
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RESEARCH PAPER BY MONASH UNIVERSITY   Please read this, you will then see WHY Ms Denise Brailey has good cause to demand  a ROYAL COMMISSION on the Banking and finance industry and the use of the Broker Channel as agents for the Finance Provider. Comment from Denise: "This piece is a good find Mort and keep going on the research.  The reality thinking according to bank input into Universities in 2008 does not show the Banks as Engineers.   BFCSA Members all know now - the culprits are the Bank Engineers and the Brokers did not  "fudged income figures" as first thought.   No-one was investigating the criminality of the banking sector.   All Banks and Non Bank Lenders invented and used Speedy the Calculator - to fudged the figures.....  Brokers were simply new recruits in a  high turnover industry, set on Quotas and instructed to simply following orders.  They were told "you...
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  • doyla66
    doyla66 says #
    Comment from Denise: "This piece is a good find Mort and keep going on the research. The reality thinking according to bank input
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Mort, You are all the right track in regards to the Broker/Banker Relationship.  Members and guests always bear in mind that Brokers are a created industry which really should not be necessary. If Banks/financial institutions were more efficient there would be no need for this industry. As such Brokers income is derived from on selling and very handsomely in most cases.  While this industry helps keep employment figures on track it is at the expense of the Aussie mums and dads and families. With this in mind it seems to indicate that without the Brokers, loan/money would be available at a reduced interest rate for customers directly from the bank/lender.   Remember Brokers do not have  the ability to approve or make a decision of the money/loan approval. Brokers cannot provide the money for a loan, credit card etc.  Brokers are under the instructions of a Financial Institution and cannot act...
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  • doyla66
    doyla66 says #
    Good read Andy and thanks. FOS know alright they just bury their heads in the sand the same as ASIC. There will be a break throu
  • doyla66
    doyla66 says #
    NABedNanna,NAB="organised-crime-gang" raping&pillaging while "RBA governor Glenn Stevens says Aust remains a "lucky country" becau
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