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BFCSA
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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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Citizens Electoral Council of Australia Media Release  Wednesday, 8 October 2014 Craig Isherwood‚ National SecretaryEmail: This email address is being protected from spambots. You need JavaScript enabled to view it. Australia: Look to Egyptian nation building Australia must look to Egypt to see what’s possible when a nation has a sovereign mission for development. After the political unrest and protests of 2012‑13, under President Abdel Fattah al‑Sisi, Egypt’s future now looks bright. Just last month, Head of the Suez Canal Authority, Vice Admiral Mohab Mamish said that the Armed Forces have completed 25 per cent of the digging work of the New Suez Canal Project and the new canal will be complete within just one year. An Australian government feasibility study would take longer! On 5 August, President al-Sisi presided over the ceremony commencing the construction of canal and by the next day, under the supervision of the Egyptian Army Corps of Engineers, 7,500 workers began digging. In the same spirit, Egyptian citizens overwhelmingly supported...
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http://www.crikey.com.au/2008/07/31/briefly-business-john-stewart-john-mcfarlane-gerry-harvey/?wpmp_switcher=mobile Thursday, 31 July 2008 Briefly Business: John Stewart by Crikey BUSINESS Stewart bids adieu, leaving his own “legacy issues” . A couple of weeks ago, this column opined that NAB boss, John Stewart, had one of the cushiest jobs in corporate Australia. As it turns out, the Scot’s gravy train was derailed last Friday when NAB would write down its interest in US mortgages by $830 million. In explaining the loss, Stewart told Sky News that:  At the time we decided to invest, all the investments were rated AAA… so there is no fault in the initial investment. What actually happened is that no one believed that the US housing/mortgage market would melt down in the way that it has. We have to accept that credit agencies could not have predicted what happened… it is unprecedented. “No fault in the initial investment”? That’s a bit like standing over a body,...
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  • setup
    setup says #
    The bankers will say that they did not see it coming but in truth subprime lending was deliberately created for the sole purpose o
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Another Palmer United backflip and leaving consumers at the mercy of the bank with watered down regulations.  Palmer has left Consumers at even greater risk from predatory lending behaviour by LENDERS.  Ah well..................  This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.smh.com.au/federal-politics/political-news/carbon-to-go-but-fofa-laws-stay-palmer-20140714-3bx9n.html FoFA laws to stay: Palmer National Political News Date July 15, 2014  Mark Kenny   Financial planners will be required to reveal their earnings from customers when Labor and the cross benches combine this week to vote down Tony Abbott's weakened financial planning laws, but the government will finally get its way on the carbon tax.  Mr Abbott has now secured the parliamentary majority needed to scrap the carbon tax with a repeal vote, backdated to July 1, due to be taken in the Senate on Tuesday................ But Mr Palmer has pulled the rug from the government on another incendiary issue - the Future of Financial Advice laws.  The PUP leader said his party was not negotiating with the government...
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ASIC finally wakes up to everyone else's nightmare DateJune 16, 2014 Read later John Addis http://www.smh.com.au/business/intelligent-investor/asic-finally-wakes-up-to-everyone-elses-nightmare-20140616-3a7me.html   Misconduct claims widen in CBA's planning scandal The Stockholm Syndrome is a psychological process whereby a hostage identifies with their kidnapper, to the point of defending the kidnapper's reasons for their own capture. For the past eight years ASIC appears to have been suffering from a similar condition, with only the public revelation of wrongdoing, rather than wrongdoing itself, provoking action. The Senate hearing into ASIC's performance shows the regulator emerging from its captive state to see the true state of financial planning at Commonwealth Bank. The daily revelations of big bank malpractice and regulatory inaction is a real-life horror show. In her work covering ASIC's investigation into Financial Wisdom and Commonwealth Financial Planning, both owned by CBA, Fairfax's Adele Ferguson reported on a 'mystery shopper' exercise conducted by ASIC in 2007. Covering 51 randomly selected planners, the...
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Dirty campaigns to attract Asset Rich Income Poor pensioners was promoted by Major Banks in 2004..........its all coming home to roost.  Three years prior to the GFC....so American investors have rang asking this obvious question: How did our banks keep the same deceitful LIAR Mortgage LOAN model rolling forward and riddled with fraud....for so long? http://www.deloitte.com/assets/Dcom-Australia/Local%20Assets/Documents/Australian%20Mortgage%20Industry%20Report(1).pdf  The Australian Mortgage Industry At The Crossroad - 2005    Interesting times in the mortgage industry.   The dynamics between direct franchising and third party distribution loom large; consolidation choices in the increasingly influential brokers’ domain are yet to finalise.  Regulation and risk management tighten the landscape. And overall the competition around retention and sales is as fierce as ever and continues to keep margins under pressure. All are key strategic factors for the industry.  For these reasons we title this first in the series of Deloitte’s points of view on The Australian Mortgage Industry...
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The bank scams that have invaded Australia, are tearing families apart, destroying lives, by stroke or heart attacks around the nation, all because of a product that Bank Engineers like Medcraft & Mates. A BFCSA Members tells of the pain and family suffering, better than I could ever describe: "After stepping away from the blog for several weeks after a major breakdown due to TOXIC loans....... Cause that is what they do a person....... The stress and anxiety destroys you.....these hideous bankers and their evil secret service calculator they invented, are killing the previously happy lives of ordinary Australian families....... Observers and Readers..... Yes..... You are right...... It's the Loan Application Forms ("LAF") that destroyed us. After stepping away from the blog for several weeks after a major breakdown due to TOXIC loans....... Cause that is what they do a person....... The stress and anxiety destroys you.....these bxxxxx bankers and the...
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  • doyla66
    doyla66 says #
    If I had committed a fraud I am damn sure that I would be shown no mercy. No passing go, just straight to jail. Shouldn't it be o
  • doyla66
    doyla66 says #
    It's time to extinguish all fraudulent loans and stop the pain and suffering. We do not deserve to go through this pain and tortur
  • doyla66
    doyla66 says #
    "I don't care how much it costs the banks, that's the penalty for falsifying documents and doing the wrong thing by consumers" Ja
  • doyla66
    doyla66 says #
    What I find absolutely amusing is the fact that Mr Kirk ? from ASIC said to the senators "do you realise what this will cost the b
  • doyla66
    doyla66 says #
    It has nearly been 12 months since Nab took possession of our home. The pain is still there. The torment, the embarrassment, all
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FAIRNESS IN LENDING as a revered regulation and policy of Government that could have stopped the greed of Major Banks, had it been properly applied.   Government could have stopped the fraudulent Loan Application Scams that has been taking place inside the Banking Machine of Australia.   TO FOS, COSL, APRA and ASIC - why did you not think of this? To adhere to regulations relating to FAIRNESS in FINANCIAL PRODUCTS AND SERVICES: 1.  It is most unfair to have a banker seconded TO FOS from a Major Lender to adjudicate and view a client file who is a complainant of any of the Lenders..........................and please tell us who dreamed that one up?????? 2.  The statue of limitations is six years from when the awareness is evident, so please cease using that as an excuse to close files and treat consumers of banking products with  contempt. 3.  The statue of limitations is UNLIMITED in cases...
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  • Denise
    Denise says #
    Thanks Andy. I read the document. Judge simply says he thinks the stand that FOS is taking re six year limit is wrong. But the
  • doyla66
    doyla66 says #
    Thanks Denise. Had hoped when I sent the comment somebody would enlighten me for it was not my query but something I found when t
  • doyla66
    doyla66 says #
    Is it correct that ex Bank Managers are FOS Case managers.??? You would think this is a good move because they would understand th
  • Denise
    Denise says #
    Hi Organza, Our securitisation program differs from the USA. Bankers securitised THE INCOME STREAM here in Australia. Do not tru
  • doyla66
    doyla66 says #
    The (VIC) Court of Appeal decided that FOS erred in law when.. deciding the complaint was lodged out of time".. FOS Decision The
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RHG's solution to solving their TOXIC LENDING policies is to say "we will settle for X dollars by offering a new IMPRUDENT LOAN."  Even worse the lawyers for RHG knew that FOS (the Financial Ombudsman Services) close for business out of respect for the festive season.  RAMS Home Loans Group has just sold out to RESIMAC.  I hope the guys at RESI know what a mess of toxic lending has been left behind.  I hope they read about it in RHG 's infamous "fine print." RHG decided to write to a family with five children, knowing the ill health of the husband.  The allegations are the usual: fraudulent Loan Application Forms, no regard for the Bankers Code of Practice, Maladministration in Lending, asset lending, etc.   RHG's legal counsel delivered a letter by email 48 hours before Christmas to suggest a TAKE IT OR LEAVE IT OFFER....and by the way "we...
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  • doyla66
    doyla66 says #
    Seems every low day is followed by one that picks you up by the bootstraps - yesterday despair on finding out about self-securizat
  • doyla66
    doyla66 says #
    . and European regulators fined banks record amounts this year, imposing penalties and settlements of more than $43 billion as aut
  • doyla66
    doyla66 says #
    Seems to me all Lenders know ASIC will never be taken to task and Joe has now confirmed so in reneging on promises made proving he
  • doyla66
    doyla66 says #
    Wipe the debt and pay for all losses. What a pack of clowns. Classic case of RHG willing to give a loan through fraudulent means a
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