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BFCSA
MORTGAGE
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What BFCSA Does...

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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BFCSA Blog

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 Corrupt Regulators
This comment from Ali is also worth a BLOG: The Pollies can stop Coles and Woolies from squeezing the farmers dry. They have the power to allow the farmers to make a reasonable profit. If this action continues all the small to medium farmers will walk off their land causing more hardship on the rural industry and bringing more burden to the Government. Coles and Woolies will keep on squeezing the farmers dry for the sake of selfish bigger profits. Once this action reaches saturation point, retail prices will soar and the public will suffer. For this principle we rarely shop at these stores. The bulk of our shopping is done at independent and small privately owned businesses.  If no-one shopped at Woolies or Coles for ten days the Government would sit bolt upright..........................think about it. I agree Ali, Farmers are being squeezed out of existence and usually their enemy/friend worry...
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  • doyla66
    doyla66 says #
    The average Australian knows that Consumer protection is wildly flouted. Standing up to these bullies in power is a must. They con
  • doyla66
    doyla66 says #
    Great idea. Farmers put in the hard work only to be ripped off by the Corporate giants. If it wasn't for the farmers we would all
  • doyla66
    doyla66 says #
    Recent article in our local paper stating a strawberry farmer is not putting up with the measly amounts C & W pays them anymore an
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Senators push to grill ASIC over failure to heed warnings DateJune 11, 2013 Read later Adele Ferguson, Chris Vedelago Zoom in on this story. Explore all there is to know. Greens Australian Securities and Investments Commission Senate Christine Milne   inShare Pin It submit to reddit Email article Print Reprints & permissions     Need for inquiry: John Williams. Photo: Supplied The Australian Securities and Investments Commission could face a government inquiry into its regulation of the financial services industry after revelations the corporate watchdog ignored whistleblowers' warnings about misconduct inside the Commonwealth Bank. The call for an inquiry comes after a Fairfax Media investigation found ASIC waited 16 months to formally investigate tip-offs about improprieties inside CBA's financial planning division that put the life savings of thousands of clients at risk. CBA has so far paid out $36.4 million in compensation to 725 victims who received ''inappropriate advice'' from seven financial...
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  • Jetfighter
    Jetfighter says #
    This has been a long time coming. Thanks Denise, lets all do our bit and let these senators know our story and request a Royal Com
  • doyla66
    doyla66 says #
    Following on from the previous inquiries, the Senators' expressions of concern over the letter of complaint they have had over the
  • doyla66
    doyla66 says #
    Big'V'Bank$ters hope ASIC-Chairman Medcraft can assert influence in his role as IOSCO Chairman to avoid losing $billions in relati
  • Denise
    Denise says #
    Credit where its due. The Senators driving this for the good of the people are: Senator John Williams (NATs) Senator Doug Camero
  • doyla66
    doyla66 says #
    Good idea Ali, start posting comments on Senators Facebook and let them know ASIC not helping.
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The only reason ASIC can claim it clawed back $23 million is due to lobbyists like myself and others.  I spoke to Greg Tanzer, Darren McShane (dDir of Enfocrement and Errol Hoopman (ASIC Barrister) about Westpoint 15 July 2001 in Commissioner Tanzer's  Brisbane Offices.  I flew to see him on my meager budget.  ASIC has a BIG budget of $400 million plus a year and the Treasurer generously threw another $100 million at the ASIC PROBLEM end of last year.  Splashes of extra Mega Cash has not improved ASIC's performance.  They should try my budget.   BFCSA has achieved what a $1 billion regulatory system could not achieve.  All on song: AOFM, ASIC, APRA, RBA and Federal Treasury told porky pies to Parliament: "We see no systemic issues in banking."  Five wise monkeys...see our cartoon corner. We will set up an ASIC METER so you the public can vote IF you...
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  • doyla66
    doyla66 says #
    Just because others couldn't see the problems with ASIC and the other regulators and the pattern of lending, the six links in the
  • doyla66
    doyla66 says #
    Well spelled out Lisa: the word "gossip" appears to be one of spin-doc's favourit of 34~flavours to obfuscate revelations George
  • doyla66
    doyla66 says #
    Another powerful post from Denise. She sure has a library of information exposing the crimes and shameful low performance of Austr
  • doyla66
    doyla66 says #
    Cover ups, corruption, lies Lies upon lies upon lies...I remember writing to them and told to go to FOS..a bugger of letter. Now F
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Missing pieces in a low-doc lending trail that shattered lives Date June 3, 2013         (2)                      Michael West Business columnist                 It was 9am Monday, on a late February day this year, when Denise Brailey arrived at the offices of the Australian Securities and Investments Commission in Perth for a meeting with Victorian Commissioner Warren Day and lawyer Robert Allen. Allen and Day had flown from Melbourne to find out what information Brailey, a veteran campaigner for victims of financial fraud, had about the banks and their low-doc loans. Brailey claimed to have the last bits of the jigsaw puzzle which would prove that mortgage brokers were acting as agents of the banks in foisting loans on customers who could not afford them. Though interest rates had fallen to historic lows, there were family homes on the line, lives ruined. This $57 billion, low-doc loan sector required urgent investigation, said Brailey, who...
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  • doyla66
    doyla66 says #
    This just proves once again those 'willbees' from ASIC are still expecting Denise to do THEIR work for them. Members went to the t
  • doyla66
    doyla66 says #
    ASIC and co could justify their way out of a concrete box. Skippy, no doubt, is an efficiency measure, designed to improve product
  • doyla66
    doyla66 says #
    If our government won't order a Royal Commission now they have their priorities upside down. More fuss erupted over a dodgy hor
  • doyla66
    doyla66 says #
    Field's states"brokers (are) agents of customer" legally spurious--as not (1) customer ID "Disclosure Certificate"(DC) supplied by
  • doyla66
    doyla66 says #
    Thankyou, Andy. So well explained and now I really get it. And Philip Field - good grief - had he read the Schmidt Anor case? Reg
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