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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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    Friday, October 12, 2012 11:08 AM Bank of China Warns of Ponzi Schemes China's Demographic Peak Birth Rate Comparison China vs. US "China Will Grow Old Before Growing Rich"       Bank of China Warns of Ponzi Schemes The Ponzi schemes and off-balance sheet loans in China's banking system are in the forefront of today's news. Reuters reports Bank of China executive warns of shadow banking risks. A senior Chinese banking executive has warned against the proliferation of off-book wealth management products, comparing some to a Ponzi scheme in a rare official acknowledgement of the risks they pose to the Chinese banking system. China must "tackle" shadow banking, particularly the short term investment vehicles known as wealth management products, Xiao Gang, the chairman of the board of Bank of China, one of the top four state-owned banks, wrote in an op-ed in the English-language China Daily on Friday....
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  Fat, Cats and the Cream Friday, 9 November 2012   Albert Einstein once said, “Wire telegraph is like a very, very long cat, you pull its tail in New York and his head is meowing in Los Angeles. Radio operates in exactly the same way: you send signals here they receive them there. The only difference is that there is no cat” yet, despite almost one hundred years of technological advancement and much virtual cat tail pulling on my part I have, until this week, remained both impatient and noticeably void of any communication on the subject of my Halifax Bank of Scotland mortgage miss-selling case or my complaint sighting unfair practices within the Financial Ombudsman Service.   Regularly experiencing, firsthand, the lack of regulatory impetus which continues to halt the complaints progress for the individual, it has been no surprise to hear that not only are global financial...
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  • doyla66
    doyla66 says #
    The lack of specific complaint statistics doesn't necessarily reflect the true situation, in Australia or anywhere. Thus the provi
  • doyla66
    doyla66 says #
    FSA investigating mortgage 'misselling' By Bridgid Nzekwu Updated on 20 May 2008 Financial watchdog confirms to Channel 4 News tha
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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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I went to our large local  Robina Town Centre Shopping Centre on the Gold Coasttoday and asked to speak to centre management about  getting permission to set up a small tableand asking people to sign a community petition.   They asked me what thepetition was about & I replied that it was a community petition about Banking Reform. The woman went into another office and spoke with a centre manager. She cameout  a few minutes later and told me that the management spokesperson ( whodidn't even have the decency to come out & see me) would not allow this asit would upset the banks, and banks were tenants there,  so NO, we couldn't. Even the shopping centre managers are afraid....
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  • doyla66
    doyla66 says #
    Banks are considered to be 'anchor tenants' just the same as the supermarkets so that will be where the centre managers are coming
  • doyla66
    doyla66 says #
    Shopping centres owners are dictatorships too! Did you know that the shop tenants pay about $30000 a month (yes, true!) to Westfi
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