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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 CRIKEY 2005
Comment: Amazing that CBA engineered faulty financial products started with David Murray and Joe Hockey appointed him to Roots and Branch Inquiry backs by Sen. Bushby!!.  Then he passed on to R$alph Norris - another $10 million........................Music stopped and narve left without a chair or a prayer.  CBA loyal customers reduced from retirees to pensioners overnight - same with Macquarie - . http://www.crikey.com.au/2005/09/16/david-murrays-cascade-of-cash/?wpmp_switcher=mobile David Murray’s cascade of cash Glenn Dyer writes:| Sep 16, 2005   The media went through the motions looking at the final payments to David Murray, the long time CEO of the Commonwealth Bank who retires next week.  Murray will leave the CBA with cash, shares, super and other payments, plus owning shares he’s accumulated in recent years. The value of all this (some of which will flow in over the next four years) will be around $58 million................., You have to look through the CBA annual report carefully to find the details of his pay but they are found...
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http://www.crikey.com.au/2005/04/12/peter-costellos-asic-hypocrisy/ Peter Costello’s ASIC hypocrisy By Stephen Mayne|Apr 12, 2005   Queensland’s threat to withdraw its support for the Federal Corporations Law sparked treasurer Peter Costello to warn this would make Australia’s nine sets of laws more costly and complex than the whole of Europe. However, what Costello failed to mention is that since the Feds got control of the Corporations Laws, ASIC has become a profit centre, pulling in more than $400 million a year in revenue while costing less than $180 million a year to run.  Crikey blew the lid on this rort last July as you can see here when we wrote: Ever heard of a regulatory body which generates hundreds of millions a year in surplus revenue? Look no further than ASIC which gouges Australia’s big and small business alike and has handed over more than $1.5 billion in surplus revenue to the Howard Government’s budgets since...
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