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BFCSA
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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 Finance Minister Matthias Cormann
http://www.afr.com/p/blogs/christopher_joye/comment_cormann_fofa_changes_gift_xrftj36KtmoyEsHZjRtOrN Comment: Cormann’s FOFA changes a gift to big banks PUBLISHED: 20 Jun 2014 13:06:00 | UPDATED: 22 Jun 2014 10:23:52PRINT EDITION: Christopher Joye The Coalition’s ostensible back-flip on its “reforms” to the Future of Financial Advice (FoFA) Laws, which were originally introduced by Labor to thwart mis-selling crises, will still radically change the way financial service products are sold and businesses organised.  But because politicians speak with forked tongues, and the Coalition has now occupied three different positions on the subject since December last year, the evolution of the changes needs to be traced to understand their significance.  Under Labor’s FoFA law all forms of so-called “conflicted remuneration”, including sales bonuses and commissions paid by employers or third-party product suppliers to individuals (eg, a bank teller, stockbroker, or planner) selling products to clients, were banned unconditionally for all products except loans, deposits, and insurance. This ban applied to situations where...
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What a banking mess! Corrupt regulators are the very reason we need a Royal Commission into Bankers, Financial Products and Services.  The Banks were the engineers of dodgy advice and products - investment products and low doc loans.  If you have a story to tell  This email address is being protected from spambots. You need JavaScript enabled to view it. http://www.smh.com.au/business/cba-may-fall-victim-to-hubris-as-pressure-rises-over-financial-planning-scandal-20140704-3bdt8.html CBA may fall victim to hubris as pressure rises over financial planning scandal Business Date July 5, 2014 Adele Ferguson 'What kills banks is hubris,'' says Brian Johnson, one of the country's most respected banking analysts.  They are five simple words but they strike at the heart of what can ultimately destroy a company - no matter what its size, its political clout or its storied history.  Johnson was referring to the various twists and turns in the Commonwealth Bank financial planning scandal that was exposed by Fairfax Media a year ago and culminated last week in a Senate inquiry calling for a royal...
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