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BFCSA
MORTGAGE
DISTRESS SOS

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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 Total Failure
ASIC admits scrutinising Senate Inquiry submissions 20 November, 2013 Mike Taylor 2 comments http://www.moneymanagement.com.au/news/financial-services/2013/asic-admits-critical-senate-inquiry-submissions The Australian Securities and Investments Commission (ASIC) has revealed that it has examined all the submissions lodged with a Senate Inquiry into its operations, many of which have been highly critical of the regulator.  ASIC chairman Greg Medcraft has told a Senate Estimates Committee hearing that the regulator had examined the submissions in a bid to understand any complaints about its performance and to identify “how we can do a better job”.  The Senate Inquiry into the operations and performance of ASIC has received close to 300 submissions, a number of which have been kept confidential and many of which have been highly critical of ASIC’s performance.  Medcraft told today’s Senate Estimates Committee that ASIC had provided the Senate Inquiry with three submissions, the most recent of which had included a proposal for a national financial adviser exam aimed at...
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  • doyla66
    doyla66 says #
    Mr Medcraft... there is karma and we can only hope it's your time to feel the pain you ignored of so many innocent Australians. Wh
  • doyla66
    doyla66 says #
    The only qualification Greg Medcraft needed to lead ASIC was that he was a mate of former Treasurer Wayne Swan, another case of jo
  • doyla66
    doyla66 says #
    How pathetic is Mr. Medcraft. I mean to say he is as FOOLISH as Nab's gangsters
  • doyla66
    doyla66 says #
    Mr Medcraft: Why does ASIC NOT enquire (acquiesce) to the obvious "irregular" concentration of legal services provided thru one(!)
  • doyla66
    doyla66 says #
    A national financial advisor exam( great idea Greg well worth 900k you are paid - what about an Asic and bank executives honesty
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Ever tire of hearing ASIC willbee's?  See how many times ASIC executives answered the Senators questions In Parliament with: "we will be."  Remember ASIC's bleating in 2004 "we will be getting tough with wealth creation spruikers."  Their idea of 'tough' and using Enforceable Undertakings is not the public's idea of getting tough and applying the law.  ASIC have power over criminal law and remedies, so why is it that those tools are rarely if ever used?   What's an EU?  Its a piece of paper signed by the crook and signed by ASIC Executives stating "ASIC agrees to shred the complaint, wipe the slate clean, drop the mention of misleading and deceptive and/or fraud and forgery and all is forgiven.  Criminal agrees to stand in the naughty corner and never transgress in the future."  Problem solved and, the victims can all go home....if they have one to go to.  Everyone happy.  Done...
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  • Denise
    Denise says #
    Dear Mr Munchenberg and other dumbo's at the ABA. Our sub prime lending cartel is everyone's business and everything to do with t
  • doyla66
    doyla66 says #
    ASIC - "do as we say, not do as we do" eh? The rules obviously don't apply to ASIC! ASIC are corrupt, incompetent at Law governanc
  • doyla66
    doyla66 says #
    Remember when the ASIC Inquiry was announced and the ABA said, well that's nothing to do with the Banks? Are the ABA and Munchenb
  • doyla66
    doyla66 says #
    Yeh, ASIC are certainly consistent!!!! Just fob us off with "GO TO FOS" we cannot help. That is consistent alright. All 3 compla
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BFCSA is calling on the Federal Government to ensure  FREEZE ON ALL FULL DOC AND LOW DOC MORTGAGE PAYMENTS where fraud is present.  Every bank should be made to hand over copies of the client files immediately.  ASIC refuse to do anything at all except spend tens of millions on office reno's.  The Prime Minister must direct policy of  such a nature as to protect consumers from further threats from the guilty Bankers and Lenders. To all those miserable bank warlords who are trying to intimidate the holders of Fraudulent Loan Application Forms - do not even attempt to threaten anyone.  I can guarantee you that every such letter on bank letterhead will be BLOGGED for the entire world to understand this complex scam.  Bank Executives were the creators of these monstrous scams.  36% of all FULL DO AND LOW DOC liar loans were arranged by BANK MASTERS with not a...
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  • doyla66
    doyla66 says #
    When you think about it. The banks want to own and control everyone. Communisim in disguise perhaps!
  • doyla66
    doyla66 says #
    I wonder if you're right on that Maria - I've been thinking the same. What if the overseas home loans were also fraud loans .....
  • doyla66
    doyla66 says #
    ASIC and the banks have been laughing their heads off for years and years. ."This scam will never be uncovered" we're just too goo
  • doyla66
    doyla66 says #
    I wonder if these bankers had their son/daughter/mother/father get one of these low doc loans and had happen to them what is happe
  • doyla66
    doyla66 says #
    A new beginning is here. Out with the old, In with the new. The bankers have no clause to justify their wrong doings, the evidence
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