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BFCSA
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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 Australian Banks exposed
Breaking the big four’s bad habits  The Murray Inquiry Threatens to corral Australian Banks' dodgy lending practices.  Big Banks Bad Business Model to steal homes. 6 October 2014 Callum Pickering http://www.businessspectator.com.au/article/2014/10/6/australian-news/breaking-big-fours-bad-habits   Australia’s major banks are getting desperate. The Murray Inquiry threatens to corral their dodgy lending practices and misleading accounting, prompting a last ditch effort by senior management to convince members of the inquiry that additional regulation is not required. We shouldn't sugar-coat the situation: the Murray Inquiry poses a serious threat to the business model of Australia’s big four banks. That might sound dire, but don’t be fooled, this is a business model that should be threatened.  The inquiry itself -- the first into the financial sector in 17 years -- will be released in November. At the centre of the inquiry are two fundamental issues: the major bank’s low capital ratios and the government’s implicit guarantee of Australia’s financial system. Those...
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  • Jetfighter
    Jetfighter says #
    There needs to be a better share of the market right across the board to establish a balanced and sustainable economy that will en
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from http://www.whocrashedtheeconomy.com.au/blog/category/australian-economy/ Australia's subprime mortgage crisis 12 August 2014 , 10:37 AM by Gabrielle Burke Do you remember the subprime mortgage crisis in the United States that left so many people in trouble a few years ago? Think it could never happen here? Well, it is. Many Australians are now facing financial difficulties after signing contracts for low-doc loans. Denise Brailey has warned against such loans. She is from the Banking and Finance Consumers Support Association. » Pensioner represents tip of $100bn sub-prime iceberg: advocate – The Australian, 12th August 2014. » Australia’s subprime mortgage crisis – The ABC, 12th August 2014.   » The Investors Club, renamed as Property Club, sued by couple claiming they were misled into taking out $1 million in loans – The ABC, 12th August 2014.   Yes many more TIC victims coming in from the cold  This email address is being protected from spambots. You need JavaScript enabled to view it....
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  • setup
    setup says #
    Stay clear of low doc loans. They are dangerous and can ruin lives to the point of total financial destruction. Knowing what i kn
  • PreySOS
    PreySOS says #
    More effective government strategy and action and is essential to stop further dangerous development.
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What a banking mess! Corrupt regulators are the very reason we need a Royal Commission into Bankers, Financial Products and Services.  The Banks were the engineers of dodgy advice and products - investment products and low doc loans.  If you have a story to tell  This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.smh.com.au/business/cba-may-fall-victim-to-hubris-as-pressure-rises-over-financial-planning-scandal-20140704-3bdt8.html CBA may fall victim to hubris as pressure rises over financial planning scandal Business Date July 5, 2014 Adele Ferguson 'What kills banks is hubris,'' says Brian Johnson, one of the country's most respected banking analysts.  They are five simple words but they strike at the heart of what can ultimately destroy a company - no matter what its size, its political clout or its storied history.  Johnson was referring to the various twists and turns in the Commonwealth Bank financial planning scandal that was exposed by Fairfax Media a year ago and culminated last week in a Senate inquiry calling for a royal...
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