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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 Banking Inquiry
During the coming weeks, my tireless team of bloggers will re-blog some of the previous classics, lest we all forget.   On 8th August (2pm) I gave evidence in the Federal Senate Inquiry into Banking - Post GFC.   One of the issues raised with the Senators was concerns that we have many people living in their homes for years and paying no payments and we suspected under reporting of defaults to APRA.  We had concerns, and still have that domestic loans were being re-jigged as business loans to enable banks (attempted) to avoid responsibility to their customers.  Classifications of these mortgages has become a sticking point with the Financial Ombudsman's Service ("FOS"). Australian Prudential Regulator Authority ("APRA), sister regulator to useless ASIC on the Twin Peaks System, upon hearing my evidence wrote letters to all major banks and lenders.  It took 14 days from the 8th of August, to pen the letters.  We were never privy to the responses.  APRA...
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  • doyla66
    doyla66 says #
    No enforcement by APRA? Or ASIC? No proof that the work was done? Wakey wakey APRA, ASIC and the rest of you overpaid bureaucra
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Pat McConnell
Justice Steven J. Rares was blunt when he handed down his judgement in the long-running class action, Wingecarribee Shire Council vs. Lehman Brothers Australia, last week. Grange Securities, a subsidiary of Lehman Brothers, had engaged in “misleading and deceptive behaviour” in promoting sub-prime derivatives…Author Pat McConnell Honorary Fellow, Macquarie University Applied Finance Centre at Macquarie University Disclosure Statement Pat McConnell does not work for, consult to, own shares in or receive funding from any company or organisation that would benefit from this article, and has no relevant affiliations. The Conversation provides independent analysis and commentary from academics and researchers. We are funded by CSIRO, Melbourne, Monash, RMIT, UTS, UWA, Canberra, CDU, Deakin, Flinders, Griffith, La Trobe, Murdoch, QUT, Swinburne, UniSA, UTAS, UWS and VU. Articles by This Author 18 September 2012 Protecting taxpayers from systemic risk should be at the heart of APRA changes 13 September 2012 Debunking the myth of...
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  • doyla66
    doyla66 says #
    Do financial planners need more education about financial products and/or is there a requirement for them to have continuing profe
  • doyla66
    doyla66 says #
    Judge Rakoff: "regulator's policy of settling by allowing[banks]to neither admit nor deny allegations “did not satisfy the law”. H
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Posted by on in From My Window
Canary Wharf
    Continue reading the main story   The BCC said financial institutions needed to rebuild trust   Businesses' trust in banks and other financial institutions is falling, according to a survey from the British Chambers of Commerce (BCC). Half of the 1,560 businesses questioned said they mistrust banks and building societies, while 38% said they trust them less than a year ago. Banks and building societies remain the main source of finance for firms. Meanwhile, a separate survey revealed businesses' hiring intentions fell to a 28-month low in September. But the report from accountants BDO also said that business optimism showed a rebound this month, "continuing the zigzag pattern of ups and downs in confidence of the last four years". 'Repair relationships' The BCC survey said 57% of firms felt confident they could secure external finance, while 37% said they were not confident of doing so. Some 59% of those...
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  • doyla66
    doyla66 says #
    Did LIBOR impact Australia? Surely it must have? Why aren't our Australian Media looking into that side?
  • doyla66
    doyla66 says #
    Because our Australian Media do not want to ask the intellectual questions. They consider it is not newsworthy if it is boring to
  • doyla66
    doyla66 says #
    Anthony Klan certainly could. He's world class. So are some of the ABC investigators and well known Australian writers like John P
  • doyla66
    doyla66 says #
    "the fullest, most forensic, most transparent 'people's public inquiry'" into the behaviour of banks, with consequences. This is w
  • doyla66
    doyla66 says #
    In Bank executives minds, doing "what is right" was replaced by: A)Doing what can be covered up by their corrupt lawyers, B)Ignori
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