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.
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.
An update from the Code team (My comments in italics)
The Code Compliance and Monitoring team is a separate business unit of FOS. Our purpose is to assist the independent administration and monitoring of compliance with industry Codes of Practice in the financial services sector.
We assist in monitoring the Code of Banking Practice, the Customer Owned Banking Code of Practice. There are 694 financial services providers that subscribe to these four Codes.
Code monitoring activities in the banking, customer owned banking are overseen by Code Compliance Committees which comprise an independent Chair, a consumer representative and an industry representative. These committees operate independently of the respective industries and have powers and functions to identify and address non-compliance with Code obligations. FOS provides secretariat services to each of these committees.
Code of Banking Practice
The annual report for the Code Compliance Monitoring Committee (Banks) was published on...