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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 CBA Toxic Lending Policies
Commonwealth Bank compensation bill may run to multi millions DateJune 14, 2014 Read later Adele Ferguson and Ruth Williams   inShare submit to reddit Email article Print Reprints & permissions   EXCLUSIVE Illustration: Simon Bosch Misconduct claims widen in CBA's planning scandal The Commonwealth Bank could be forced to pay hundreds of millions of dollars in additional compensation to customers who claim they were victims of misconduct including fraud and forgery in its financial planning business. A powerful Senate inquiry into the Commonwealth Bank's financial planning scandal is set to hand down a report later this month. Fairfax Media understands that it will call for a broadening of the compensation being offered to thousands of customers. The chairman of the Senate inquiry, Senator Mark Bishop, told Fairfax Media he was not satisfied that adequate compensation had been paid to affected customers of the bank, some of whom lost their life savings...
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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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Nguyen followed the "system."   When Nguyen was reported CBA went into overdrive.  They could not sack Don or he would have gone to his union. The CBA engineered the serviceability calculator assisted with dodgy loans.  Nguyen's recommendations for investment were another matter.  If the banks thought Nguyen was a crook they would have fired him, unless the bank executives were crooks themselves and the MR BIGS.   ASIC in 2005 exempted all banks and their agents from prosecution by issuing Class Order # 05/1122 for the SECRET fudging income machine to be made available to all brokers with the intent of prosecuting a few brokers if people started to work out their loan applications had been tampered with by CBA and the other three Major Banks.  No-one had copies of the LAF's (every Australian mortgage holder).  All approvals were done by a computer and the fudging income was executed by the serviceability calculator that ASIC granted the banks exemption for the banks to specifically use this evil tool to approve more fraudulent loans than...
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  • doyla66
    doyla66 says #
    One has to assume all banks are equally guilty. I personally know of somebody who had the same thing happen with Westpac - her fu
  • doyla66
    doyla66 says #
    Welcome to Cover-up City! Dirty linen just starting to emerge. With what we all know from our own experience and evidence the Sen
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Ghosts of the Past will come back to haunt you Mr Narev - thousands of them........................BANK ON IT!  This email address is being protected from spambots. You need JavaScript enabled to view it. Another disturbing account from an elderly couple whom have signed our petition :- The Com Bank took our home, the committed Unconscionable Lending & are sweeping it under the mat...they stitched us up for $70.000 on top of the home loan, knowing we were on a pension & couldn't pay $2000 pm on a $330.000 loan..Mr Ian Narev..CEO of Com Bank you have no conscience. You ignore all my faxes & emails...I'm treated disgustingly when I ring the Customer Service...my calls get terminated rudely....you promised us in writing $8000 for 6mths rent in advance after u took our home of 15yrs...you took our payout, long service money & our super...all went into trying to save our home & you still took it, now because I pay my whole pension in rent, we...
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  • doyla66
    doyla66 says #
    It's sad knowing this. Well, i would say having a full knowledge of your rights would be a complete weapon.
  • doyla66
    doyla66 says #
    Hi Peter and Anne, I was wondering if you have signed our petition. Please don't forget to add the reason why you are signing and
  • doyla66
    doyla66 says #
    Mr Narev and your co conspirators.................how do any of you sleep at night. Do you have a modicum of conscience amongst y
  • doyla66
    doyla66 says #
    Please excuse my expression but Ian Narev is a pig of a man judging from the cruel treatment of his costomers. i have heard many
  • doyla66
    doyla66 says #
    Ian Narev could not give two hoots about anyone thrown out into the street. All he cares about is how much money he can make swind
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Cricket Fans who are victims of MORTGAGE LOW DOC FRAUD perpetrated by internal frauds within the Commonwealth Bank, must be sickened to see the CBA logo splashed across the Australian Cricket Team's shirts.  If ever there was a good Aussie example of crooked dealers NOT PLAYING with a STRAIGHT BAT, it would be the executive staff at CBA.  It would be like Al Capone sponsoring the Team...................or Charles Ponzi. The EDR's have powers to demand CBA hand over the Loan Application Forms and other parts of the client files so we can see the FRAUD for ourselves. The reason that the "WITCH BANK" has not handed over files when asked is specifically because THERE IS FRAUD.  That is obvious.   If there was no fraud, the bank would not have to hide behind FOS and seek their protection from angry consumers of TOXIC CBA LOANS. This email address is being protected from spambots. You need JavaScript enabled to view it. From a Member who wants...
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  • doyla66
    doyla66 says #
    The more stories and comments I read the more horrified and angry I become. What an insult for CBA victims who love cricket! I f
  • doyla66
    doyla66 says #
    A tent city at Canberra plus tell every Australian with a mortgage or loan to request their LAF's from the lenders, how many LAF's
  • Denise
    Denise says #
    Yes Maria, I can see a BIG BFCSA Tent City protest in Canberra coming up..................2014
  • doyla66
    doyla66 says #
    It's a disgrace!!! They are are bully's. The Banks! They are destroying the lives of people that have worked their entire life. We
  • doyla66
    doyla66 says #
    How many fraud cases will it take to get Govt on the page: A Royal Commission into Banking and Finance is needed now. What do we
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