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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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http://www.theguardian.com/business/2014/may/30/bnp-paribas-faces-10bn-fine-us-sanctions-investigation Friday 30 May 2014 BNP Paribas faces fine of more than $10bn in US sanctions investigation US justice department pushing France's biggest bank to plead guilty to charges it violated US sanctions against Iran. France's biggest bank, is reported to be facing a fine of more than $10bn (£6bn) to settle allegations that it violated US sanctions against Iran and other countries. The US justice department is pushing the bank to plead guilty to the charges and pay one of the biggest penalties ever imposed on a bank, according to the Wall Street Journal. A deal between the bank and the authorities is still weeks away and the final penalty could yet come in lower than $10bn. The Journal said BNP was seeking to pay less than $8bn, though a person familiar with the bank said its negotiators had not proposed that figure to the justice department.   The US...
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We need an urgent ROYAL COMMISSION INTO BANKING.  BFCSA Member files have over-represented presence of RAMS dirty loans - dating back to RHG and more recent WESTPAC.  The evidence is there.  We have presented compelling EVIDENCE to Parliament twice...hand delivered to ASIC......hand delivered proof to FOS.....hand delivered proof to Senators.  WE have posted dodgy loan apps on our website, also service calculators and over 200 emails between banks and brokers.  LENDERS HAVE BEEN rubber stamping APPROVALS for over 15 years whilst ASIC SNOOZED.  Fraudulent incomes, forged paperwork, over the top Loan to Value Ratio's - ie dodgy valuations - akin to American Sub Prime.  Our sub prime crisis indeed.  Why has our sub prime crisis taken so long to crack and unravel the truth?  Just ask the MFAA....they protect their members who are predominantly LENDERS (in terms of heavyweight and long lunches).  Why any broker would belong to the Lender interested...
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  • doyla66
    doyla66 says #
    It's in the same league as the old favourite "in good faith" which is trotted out every time a Banker or their staff (reading off
  • doyla66
    doyla66 says #
    Laughable to see where RAMS try to justify themselves by saying "they have extremely robust lending practices" . Prepared to exagg
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FAIRNESS IN LENDING as a revered regulation and policy of Government that could have stopped the greed of Major Banks, had it been properly applied.   Government could have stopped the fraudulent Loan Application Scams that has been taking place inside the Banking Machine of Australia.   TO FOS, COSL, APRA and ASIC - why did you not think of this? To adhere to regulations relating to FAIRNESS in FINANCIAL PRODUCTS AND SERVICES: 1.  It is most unfair to have a banker seconded TO FOS from a Major Lender to adjudicate and view a client file who is a complainant of any of the Lenders..........................and please tell us who dreamed that one up?????? 2.  The statue of limitations is six years from when the awareness is evident, so please cease using that as an excuse to close files and treat consumers of banking products with  contempt. 3.  The statue of limitations is UNLIMITED in cases...
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  • Denise
    Denise says #
    Thanks Andy. I read the document. Judge simply says he thinks the stand that FOS is taking re six year limit is wrong. But the
  • doyla66
    doyla66 says #
    Thanks Denise. Had hoped when I sent the comment somebody would enlighten me for it was not my query but something I found when t
  • doyla66
    doyla66 says #
    Is it correct that ex Bank Managers are FOS Case managers.??? You would think this is a good move because they would understand th
  • Denise
    Denise says #
    Hi Organza, Our securitisation program differs from the USA. Bankers securitised THE INCOME STREAM here in Australia. Do not tru
  • doyla66
    doyla66 says #
    The (VIC) Court of Appeal decided that FOS erred in law when.. deciding the complaint was lodged out of time".. FOS Decision The
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