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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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Subscribe to this list via RSS Blog posts tagged in FOS & COSL cuddle up
One of our members has already picked up this gem from from KIRK - ASIC on the stand for the Senate Hearings into ASIC.   Transformation- Posted on Friday, April 11, 2014   Did anyone pick this up during the Inquiry: KIRK: "One of the things we (ASIC) did towards the end of last year was to make sure that they made it unambiguously clear to the remaining people with contested claims that not only could they go to FOS to have it resolved but CFP would waive any jurisdictional limits in that process. Some of those problems are under limited jurisdiction or they are disputes about whether there had been a previous agreement and there was already a binding deed of release and such. We got them to clarify for all of those customers that they were willing to waive those things." Does this mean that FOS waived the jurisdiction...
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  • doyla66
    doyla66 says #
    Here is another gem re FOS compensation limits waived page 17 Mr Berrill: The targeting was so systematic and so measured—but act
  • doyla66
    doyla66 says #
    Senator John Williams has a Facebook page, please leave him a comment on how you feel about ASIC and their waffle at the hearing,
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Is it any wonder COSL does not want to investigate cases if there is FRAUD?  The Big "F" Word that no regulator wants to deal with.  ASIC knew it was the Lender Serviceability Calculator that created the FRAUD internal to the Banking Cartel.  We have the evidence in spades.  ASIC know it's a giant bank fraud and say: "what do you want us to do?"  "We could have acted under the old laws and didn't?"  So a decade of lost homes but who cares? Have a look at their BOARD and understand why: http://www.cosl.com.au/about/cosl-board/  Supposed to be preserving the INDEPENDENCE when he himself is conflicted?   No wonder there has been NO COSL decisions favouring consumers re Mortgage LENDER Fraud.  COSL is looking after its member lenders very well indeed.  Scanlon would be looking after Perpets - huge volume of victims there.................................................. The Treasurer Mr Hockey said in 2010, "I would not...
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  • doyla66
    doyla66 says #
    Intelligence the thing that apparently separates the human race from every other species on this planet, we can build things desig
  • doyla66
    doyla66 says #
    Has anyone challenged COSL or FOS under the Trade Practices Act? Does it apply to them? They both enjoy monopoly within their juri
  • doyla66
    doyla66 says #
    It's been said many times but this is truly a "fox in charge of the hen house" situation. What totally appalls everyone is that t
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Tom is spot on:  Denise, As know FOS are now eliminating the appeal avenue from their decisions and going straight to determination effectively benefiting the banks and themselves.  By the time the Senate Inquiry into Lazy ASIC reports  in March FOS and COSL hope to reduce their over bloated case load.  The one they both pretend they do not have.   Our Banks and ASIC, reminiscent of the Nazi tactics in the latter stages of WW11: holding centres and send everyone to gas chambers before the Allies arrived.  This time its the Bank Case Manager executioners.  Naturally, it's in everyone's interest except consumers of toxic bank loans, to have ASIC lie twice to Parliament: "we see no systemic issues."  Industry Regulators and their Banking Buddies must be desperate to shred the evidence to skew the figures of case numbers. Yes Sir:  The most experienced INCOME FIGURE FUDGERS and Document Magicians with disappearing files living...
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  • doyla66
    doyla66 says #
    I firmly believe that if Banks, Brokers, FOS, COSL or ASIC for that matter destroy evidence to protect their own backsides and can
  • doyla66
    doyla66 says #
    Charles this is precisely the point(s), "no dox, no sox" and they get to keep their dirty underwear, case closed. FOS requires an
  • doyla66
    doyla66 says #
    It's called a coverup, in time honoured public service tradition. "In the national interest"??? Maybe in the National Bank's int
  • doyla66
    doyla66 says #
    Denise, FOS refuse to hand-over ING 'electronic credit file' from which it sourced copies & attached to its Recommendation dubious
  • doyla66
    doyla66 says #
    You are totally on the ball Denise. Lies, fraud, deceit will never stay hidden. It always comes out. With age I have learnt and
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