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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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The Australian Securities and Corruption Commission will soon be in the Hot Seat.  We are lining up a few choice questions.  Time for all to write their submissions to the Senate.  Ask not what your country can do for you, ask what you can now do for your country (JFK 1962) Would you like to see a new Consumer Protection Agency?   Stick to the Terms of Reference:   Time for you to now judge ASIC's performance:- Senate Standing Committees on Economics PO Box 6100Parliament HouseCanberra ACT 2600Australia Terms of Reference The performance of the Australian Securities and Investments Commission (ASIC), with particular reference to: (a) ASIC's enabling legislation, and whether there are any barriers preventing ASIC from fulfilling its legislative responsibilities and obligations; (b) the accountability framework to which ASIC is subject, and whether this needs to be strengthened; (c) the workings of ASIC's collaboration, and working relationships, with other regulators and law...
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On the FOS website there is a Presentation entitled: Essential Banking Law and Practice It's dated 2007. http://www.fos.org.au/centric/home_page/news/presentations.jsp Is this information sufficiently up to date to use the information in it? If not what do you think I should ignore in it? Does anyone have a link to a more recent version of this? I've written to FOS to ask them as well. Thanks Lisa   UPDATE: For more up to date information http://www.fos.org.au/centric/home_page/publications/the_circular.jsp On this page is a downloadable index of articles which look very interesting indeed - all from "The Circular" which is sent out to subscribers to FOS updates. The previous publication, The Bulletin, may also be of use. http://www.fos.org.au/centric/home_page/publications/bulletins/banking_finance_bulletins.jsp        ...
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"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,...
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  • doyla66
    doyla66 says #
    Yes, infestation of "Mainstream" banking Full-Doc products must be a game changer & raise the necessary eyebrows , if not, the cur
  • Denise
    Denise says #
    Thanks for your kind thoughts Hugh. I met with Geoff in Canberra and also other members and they support our efforts and our peti
  • doyla66
    doyla66 says #
    Hi Denise & BFCSA Members, Why not join forces with Unhappy Banking, link together to call for the Royal Commission? More Support
  • doyla66
    doyla66 says #
    Good idea Hugh. UNHAPPY BANKING also has good evidence about the BANKS FRAUDULENT activities.
  • doyla66
    doyla66 says #
    Hi Denise & BFCSA Members, Why not join forces with Unhappy Banking, link together to call for the Royal Commission? More Support
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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....
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Do you have a home loan written after July 2009? Are the old loan practices still going on? Any sign of change or improvement?   David's comment about loans written after the NCCP prompted my putting up this post. Information below on what was supposed to happen ...  I'm really looking forward to your comments. Lisa xx       July 20, 2009 National Credit Code and UCCC comparison The National Credit Code (NCC) is contained in Schedule 1 to the National Consumer Credit Protection Bill 2009. The NCC will replace the Uniform Consumer Credit Code, with modifications. Here is a list of changes (Note this is different from the changes in the exposure draft bill and does not include the registration and licensing changes): Scope: Code applies as in UCCC but has been extended to cover credit provided for the purchase, renovation or improvement of a residential property for investment...
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  • doyla66
    doyla66 says #
    I had similar statements made about our position too. I got 2 legal opinions before my dud ex decided who we were to go to & both
  • doyla66
    doyla66 says #
    Hi Lisa - I may have representation - but it does not stop me from wanting to be a voice for others in this area. Please look at m
  • doyla66
    doyla66 says #
    Yes. I do. I really wish I could say more about my case - but it is with the Barrister and solicitor. I have some REAL head spinne
  • doyla66
    doyla66 says #
    Hi JJ, I hear your frustration. "Coded" into silence. If you can, save yourself, anyway you can. Been there, with the legal silen
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