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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 Financial System Inquiry
Sub Prime crisis on the way.  What a farce this sub prime lending fiasco has become and look deeply at the ramifications after banks failed to mind the consequences of bad lending practices, criminal activity and the like, and placed PROFITS BEFORE PEOPLE.   $42 million for Cameron Clyne?  It seems we reward our bankers and throw consumers of mortgages on to the bankers' mortgage bonfire!  We have been warning the industry and its lazy regulators for over a decade.  Now Banks are begging for mercy????  Mercy Me!  This email address is being protected from spambots. You need JavaScript enabled to view it.      http://www.theaustralian.com.au/business/financial-services/bank-chiefs-in-lastditch-plea-to-david-murray-on-tougher-rules/story-fn91wd6x-1227033753739   Bank chiefs in last-ditch plea to David Murray on tougher rules by:RICHARD GLUYAS From:The Australian August 23, 2014 THE four major bank chief executives have each made an 11th-hour appeal to members of the Murray financial system inquiry ahead of Tuesday’s closing date for final submissions, as concerns mount that the sector could be forced to hold even higher ­levels of bank capital due to the ­inquiry’s emphasis on resilience.   The closed-door meetings with...
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  • setup
    setup says #
    Show them no mercy, force them to lose their AA ratings. Cause them to experience high levels of hardships so they can maybe start
  • Aries
    Aries says #
    They are criminals and should be investigated. They don't deserve the AA credit rating. The word is reaching a wide range of the c
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http://www.theaustralian.com.au/business/murray-creates-confusion-says-cba-as-it-reports-record-87bn-profit/story-e6frg8zx-1227023515075 Murray creates confusion says CBA as it reports record $8.7bn profit by:MICHAEL BENNET From:The Australian August 14, 2014 COMMONWEALTH Bank has pushed back against the initial findings of the Murray financial system inquiry, arguing “further confusion” was being created about the banking sector’s strength while labelling it critical that firm rules were in place surrounding how much capital banks were required to hold. Handing down a record $8.7 billion cash profit, chief executive Ian Narev yesterday said he still backed the process of holding a major review into the nation’s financial system.  The inquiry’s interim report released last month flagged a raft of potential headwinds for the major banks, including the prospect that the big four lenders may have to hold more capital on their balance sheets.  “I don’t think we came into the inquiry thinking we’re going to get a whole lot of free kicks,” Mr Narev conceded to...
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Joe Hockey gives financial system inquiry international flavour Georgia Wilkins March 24, 2014  The Australian    Treasurer Joe Hockey has been accused of drawing too heavily on the advice of investment bankers and hedge fund managers to guide the government's financial system inquiry. The Treasurer appointed four business people to head the inquiry's international advisory panel, including former Goldman Sachs investment banker Sir Michael Hintze and JP Morgan investment banker Jennifer Nason. Sir Michael is the founder of $12 billion London-based hedge fund CQS and is a prominent philanthropist and donor to the Conservative Party in the UK. Also on the advisory panel is former Westpac chief executive and Treasury deputy secretary David Morgan, who is currently head of private equity group JC Flowers in Europe and Asia, and former central banker Andrew Sheng, head of the Hong Kong think tank Fung Global Institute. Mr Hockey said the panel would advise the...
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  • doyla66
    doyla66 says #
    Well what a big surprise - Joe has turned out to be a big turncoat after all and has opted to hedge his bets!
  • doyla66
    doyla66 says #
    I agree, Walt. Lots of people placed their trust in Joe's Banking and Finance Industry Inquiry, which was supposed to be like the
  • doyla66
    doyla66 says #
    If it is going to be a half cocked cover up, you all know how it goes "nothing to see here" then save us all the pain suffering an
  • doyla66
    doyla66 says #
    Makes you wonder if the government is trying to clean up the banking industry doesn't it. Some of the very people who caused this
  • doyla66
    doyla66 says #
    EXACTLY. How can we consumers and citizens of Australia have any confidence in our Leaders.. we are just like lemmings heading for
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