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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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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.

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Subscribe to this list via RSS Blog posts tagged in Australia's FINANCIAL PRODUCT SHAME
If ASIC sounds a little peeved right now at all the criticism from brokers, and financial planners who sell these fraudulent loans, they will each have to cop it sweet.  WHY?  Because ASIC has know of these activities by Lenders lowering lending standards for well over a decade.  ASIC decided to blast into 2015 with an announcement of investigating Myra Financial Services and laying one charge each against two brokers.  The kingpin of the business of course was permitted by ASIC to leave the country AND ASIC once again ignores investigating Too Big to FAIL & JAIL Banks. ASIC spent the following day in a predictable cauldron of evidence based criticism.  The most disturbing questions are the ones ASIC refuses to answer: When did fraudulent tampering of loans begin?  Why did ASIC announce this now, after a 12 month investigation from complaints in 2011 or earlier?  Why so slow? Why did they prematurely annoucnce three days ago: 350 loans involved and...
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  • Louie2U
    Louie2U says #
    Interesting cop out comment from A-SIC regarding their dereliction of duties and allowing the lying cheat to flee the country. Ho
  • Wayne
    Wayne says #
    ASIC, FOS, BANKS & POLITICIANS, are all playing a game of dodge ball. They are all professional players, with years of experience.
  • Wayne
    Wayne says #
    It is becoming almost crystal clear what seems to be happening at ASIC & you can't help thinking now, it must be the way that it l
  • Duped
    Duped says #
    What a load of bull ASIC sends out! What about the people who have informed ASIC of fraudulent misconduct on their loan applicatio
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The Big New Year warning for 2015...NO TRUST or confidence should be attached to Bankers and Bank Financial Products such as mortgages and credit cards unless you wish to become one of tens of thousands of "slaves to bank debt." These iniquitous bank products have no financial escape - only financial ruin. I am consistently asked: can you recommend a good financial planner.  It is my job to tell the truth and warn consumers the fraudulent mortgage and credit products are engineered by the four major Australian Banks.  If you are thinking of applying for a loan you suspect is unaffordable from income and may not last for 30 years, the answer is simple: no matter what strategy that sellers are trained to convince you that this loan is affordable  the truth is its a bank engineered scam of magnificent proportions - all states in  Australia. A couple ask: Dear Denise, There are plenty of...
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Basel Committee backs Murray inquiry’s recommendations Banking and Finance Date December 23, 2014 - 1:38PM   Shaun Drummond http://www.smh.com.au/business/banking-and-finance/basel-committee-backs-murray-inquiry8217s-recommendations-20141223-12ctbn.html   The global banking regulator is echoing the Murray inquiry's recommendation to set a limit on the amount banks can leverage their loan books.  The Switzerland-based Basel Committee on Banking Supervision released a consultation paper on Monday setting out options for a "capital floor" on the risk-weighted (RW) capital of banks that are allowed to set their own capital, based on internal risk modelling.  It also advocates a simple "leverage ratio" to work in conjunction with the RW floor. The Murray financial system inquiry's final report released earlier this month called for a risk-weighted capital floor of 25 to 30 per cent on mortgages written by Australia's big banks, which have all been granted so-called advanced accreditation allowing them to set their capital, as well as a leverage ratio. For several years,...
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  • Louie2U
    Louie2U says #
    This just proves how stupid these inquiries are, and we have had them one after the other by the bucket loads, into the financial
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Latest TALLY # 2005 PETITIONERS Yes it’s your turn to become involved.  Let it never be said we sit on the sidelines…………….whilst your homes and savings disappear.  Please sign our PETITION for Royal Commission into Australian Banks non Banks and Collapsed Companies. TALLY: 2005 This is the link and thank you for support as this is sorely needed and long overdue   https://www.change.org/p/mr-david-murray-chairman-of-the-financial-system-inquiry-recommend-an-urgent-royal-commission-into-australian-banks-australian-non-banks-collapsed-companies-the-regulators-asic-apra-and-all-subsidiaries-and-joint-partners    ...
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  • setup
    setup says #
    Same here. Everyone needs to do their bit. Ask everyone you know to sign the petition. Here is the link https://www.change.org/p/
  • Aries
    Aries says #
    I've been doing my best, come on everyone.
  • kddeed
    kddeed says #
    Keep spreading the word and sharing the link on social media everyone!!! C'mon, this is our big chance
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