BFCSA Blog

http://www.youtube.com/watch?v=DyaitC91hEM&feature=youtu.be&a    

"A Royal Commission into the Australian Banking Sector is our democratic right. To deny us that right is truly unAustralian."   There are many strong arguments in favour of holding a Royal Commission into Banking with wide terms of reference.  One of the side effect of the Royal Commission is its capacity to bring the issues into every Australian home through the main stream media. This in turn will generate far greater awareness of the serious anomalies and inherent risks within the Australian Financial Sector. It may also answer the questions for so many Australians whose lives have been smashed by the deregulated "free market" Australian Financial Sector, directly and indirectly, including the big ones: Why weren't we told? How could this be allowed to happen in Australia? Consumer protection isn't for just for the elderly - it benefits all Australians. We've been badly misled by those entrusted to protect us,...

http://www.bfcsa.com.au/index.php/entry/sophisticated-nonsense-from-broker-industry-asic-s-latest-trick What a bunch of prize idiots ASIC are! - and their desperado lobby mates are sneaky and nasty to boot.  The NCCP protects all, not just the consumers. It's because the financial sector has exploited the consumers to the max and been caught red handed that the industry sees the NCCP as protecting consumers while all the dirty laundry is still being collected and attended to, one grotty piece at a time. This is another Bransgroves - blatant self interest for the "poor" accused perpetrators of large scale crime, fraud and sundry legal scams. I'll hold Greg while you hit him for me too, Denise.  Well there's no risk of my situation ever being termed "sophisticated" at any stage of the game - unless they've put the Loan Service Calculator over every source of income to try to turn me into a baby Packer! Just because people have acquired (e.g....

  On the page http://www.aph.gov.au/About_Parliament/Senate there is a link to order of business in the Senate. ("the Red") I've noticed that there are NCCP Amendments listed. Has anyone else read them? Do you consider these are an enhancement of our consumer rights or detrimental to our debtor relationship with the lender, from the consumer perspective?    There is also a link to all the Senators on Twitter - you can subscribe to their feeds. Interesting quick reading about what's going on.  EDITOR:   New NCCP Laws will not assist consumers - due to the FACT that ASIC has admitted it is not there to handle consumer complaints.  So no enforcement of law means we are better off having no laws, than made to believe we have Clayton's Laws that never get used or applied.  False protection is worse than the truth: There is no protection as there is no enforcement...