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BFCSA
MORTGAGE
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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.

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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 bank fees
I rise tonight to talk about what I consider to be the greatest oxymoron in Australia at the moment—that is, ethical banking. I wish to relate some of my experiences during the early 1980s when my family were involved in a foreign currency loan in Swiss francs. We drew down the loan in January 1985. Shortly after that, we saw the depreciation of the Australian dollar. There was only one way to protect yourself from those loans and that was to hedge your loan. I went to my bank manager, Peter Neil—a good man who lives out here near Goulburn these days—and requested that I hedge my loan. He informed me that I could not, that that would change our currency and you could do that only at rollover periods. The rest is history because Mr Neil was wrong. The bank had not trained their staff properly and it led to...
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  • doyla66
    doyla66 says #
    Bank Managers,used to be pillars in the community,revered, respected.Mr Williams by virtue of the fact your bank manager never sig
  • doyla66
    doyla66 says #
    You're right about banks being sales, sales, sales. That's what happened in the US as well. I've read about and listened to inter
  • doyla66
    doyla66 says #
    Honesty, my guess is that the bank manager would have been told by the bank legal people not to sign his statement.
  • doyla66
    doyla66 says #
    You are a good man for speaking the truth Senator John Williams. I urge all politicians to support him and have the integrity & m
  • doyla66
    doyla66 says #
    Thnak you Senator Williams you give us hope!
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"A Royal Commission into the Australian Banking Sector is our democratic right. To deny us that right is truly unAustralian."   There are many strong arguments in favour of holding a Royal Commission into Banking with wide terms of reference.  One of the side effect of the Royal Commission is its capacity to bring the issues into every Australian home through the main stream media. This in turn will generate far greater awareness of the serious anomalies and inherent risks within the Australian Financial Sector. It may also answer the questions for so many Australians whose lives have been smashed by the deregulated "free market" Australian Financial Sector, directly and indirectly, including the big ones: Why weren't we told? How could this be allowed to happen in Australia? Consumer protection isn't for just for the elderly - it benefits all Australians. We've been badly misled by those entrusted to protect us,...
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  • doyla66
    doyla66 says #
    Yes, infestation of "Mainstream" banking Full-Doc products must be a game changer & raise the necessary eyebrows , if not, the cur
  • Denise
    Denise says #
    Thanks for your kind thoughts Hugh. I met with Geoff in Canberra and also other members and they support our efforts and our peti
  • doyla66
    doyla66 says #
    Hi Denise & BFCSA Members, Why not join forces with Unhappy Banking, link together to call for the Royal Commission? More Support
  • doyla66
    doyla66 says #
    Good idea Hugh. UNHAPPY BANKING also has good evidence about the BANKS FRAUDULENT activities.
  • doyla66
    doyla66 says #
    Hi Denise & BFCSA Members, Why not join forces with Unhappy Banking, link together to call for the Royal Commission? More Support
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I was reading this article (link below at end) & was particularly concerned/apalled at one paragraph: "Variant says the Reserve Bank will come to the rescue of the big four Australian banks in a crisis because they are too important to fail." Is this why our banks treat us plebs (aka 'customers') with so much disdain & utter arrogance? The same attitude they displayed/presented/portrayed to the recent Senate Inquiry & those preceding inquiries? They believe they are too big too fail therefore they are above ALL laws in this unlucky country of ours? The next paragraph is quoting an Australian Analyst's perspective. I think she is caught up in the banks' hype & has not got a good grip on what is occurring in her own backyard so to speak. Then in her final paragraph this statement is made: "She noted that Australian banks were extremely profitable and now far less...
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  • doyla66
    doyla66 says #
    The banks often like to peddle the illusion of poverty. I recall ANZ complaining about their "tight lending margins" earlier this
  • doyla66
    doyla66 says #
    Once the veil is lifted of how the banks create money out of thin air, and make hundreds of % profit on their computer entries, we
  • doyla66
    doyla66 says #
    I love your quote from Henry STM.
  • doyla66
    doyla66 says #
    What a great find LMehan! Thank you! The more information we can uncover and bring to the forefront, the less power these people
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29 August, 2012 BankWest customers tell the Senate shocking stories of fraudulent foreclosures while Australia’s financial journalists are out to lunch — dining on the Commonwealth’s Bank’s record profits. Associate Professor Evan Jones reports. ON THURSDAY 16 August, the Sydney Morning Herald reported the Commonwealth Bank’s approximately $7.1 billion profit, up $700 million from 2010-11. The Herald’s financial journalists fell over themselves in adulation. Here was a true national champion. The previous week, a different story was being played out. The Senate Inquiry into the ‘post-GFC banking sector’ held hearings in Canberra (8th) and Sydney (9th & 10th). A couple of dozen spectators attended the Sydney hearings; it appears that the Herald was not amongst them. It was a spectacle. Transcripts of the hearings are available here. The Senate Economics Committee instigated its banking inquiry in March, following pressure from myriad former customers of CBA-owned BankWest who claim that their...
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  • doyla66
    doyla66 says #
    Thanks, John. I follow Independent Australia. There have been some excellent articles on banks and bank misconduct. Evan Jones ha
  • doyla66
    doyla66 says #
    You've struck gold again Lisa.
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What is it with ASIC and women brokers? ASIC in their hurry to be seen to be doing "something" for the money have shot the wrong horse again and sent the message to banks that they'll keep punishing the brokers and letting the banks off the hook. This is not what the people (ASICs bosses) asked for! I hope the scapegoat brokers appeal against their public vilification by an out of touch and out of date system and tell all to the media and BFCSA, like Kate did. I guess the BANKS and ASIC "lost" Kate as a victim, so they had to find another one to hang out to dry. Does anyone know the brokers who were busted for the BANKS crimes? ASIC are money harvesting cowards. They lack the fundamentals to take on the banks beyond a token effort. I've seen it over and over - ASIC pick...
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