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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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Message for Sir Ralph:  Banks that make profits from cheating, from fraud and forgery, from fake ABN numbers, from electronically engineered service calculators designed to FUDGE INCOME FIGURES and cheat older Mums and Dads out of their homes or life savings - that is not profit Mr Norris and now Mr Narev and Messrs Clyne & Murray - that's criminal behaviour and needs wide ranging ROYAL COMMISSION INTO BANKS AND BANKERS, especially those who retired with obscene fat bonuses payments for flogging and manufacturing LOW DOC LOANs and fraudulent investment plans..   The public are sick of criminal banking activity against retirees and pensioners. These financial products that are toxic and have boosted today's profits to $30 billion per annum for the four major banks should be WITHDRAWN FROM SALE. How does losing ones home (say 200,000 families re $100 billion of toxic loans) assist our economy?  The implosion will be...
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http://www.theage.com.au/business/which-bank-is-on-notice-after-asic-probe-into-scandal-20140519-38k5v.html   Which bank is on notice after ASIC probe into scandal?  Business Date May 20, 2014 Adele Ferguson  smh   Commonwealth Bank could face suspension or cancellation of its two financial planning licences if it breaches new conditions imposed on it late last week by the corporate regulator.  In the latest embarrassment for the CBA over the financial planning scandal, ASIC slapped the new conditions on the bank's licences on the basis its compensation process for customers of dodgy CBA planners was inadequate.  Imposing licence conditions rather than entering an enforceable undertaking speaks volumes about how serious ASIC is taking the latest development.  The fact that CBA has agreed to these conditions and waive its right to challenge them at a hearing shows how serious it is taking the regulator on this matter.  The Senate inquiry into ASIC's performance was sparked by ASIC's delayed response to information about a cover-up...
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Fitch ratings agency calls for more data on risk.  BFCSA agree RISK explained by Banks before the Loan Application Form is presented for signature.   Borrowers and Investors have been complaining about lack of risk disclosures for years. Why differing RWA's and lack of uniform disclosure? EVERYONE KEPT IN THE DARK when dealing with Banks.  Trust has been eroded and whose fault is that David? All you had to do was insure enough information was given at the beginning: PRE DECISION to borrow or invest.  Your turn to please explain..........................No informed decisions were possible!  Australia desperately needs a Federal Consumer Protection Bureau to flush out these activities.  Trust banks?  I think not.   This email address is being protected from spambots. You need JavaScript enabled to view it.   by:MICHAEL BENNET From:The Australian February 01, 201412:00AM GLOBAL ratings agency Fitch has called for banks to give investors more information on how they assess risk, warning that different modelling around the world makes it hard to compare institutions and...
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