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BFCSA
MORTGAGE
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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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Whistleblowing through disclosure of confidential internal memoranda and correspondence from legal advisers revealed that Partnership Pacific, a subsidiary of Australia's second largest retail bank, had arguably misled some customers and behaved improperly to others. The consequences of that impropriety included personal bankruptcies and loss of family farms. Former Westpac executive John McLennan faced substantial legal costs (an Australian court ruled in favour of the bank regarding copyright and confidentiality breaches); the damage to the bank's reputation was intangible. It has been suggested that perceived mishandling of public relations contributed to the resignation of the Westpac CEO. The bank incurred no government penalties but exposure of the documentation in Parliament after suppression orders initially prevented publication in the media appears to have led to better treatment of some affected customers. The Affair features in Edna Carew's Westpac: The Bank that Broke the Bank (Sydney: Doubleday 1997), Quentin Dempsters's Whistleblowers and Graham...
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Posted by on in BANKSTERS

Back in early 2008, the Australian economy was going well. With the property market booming many businesses took out loans from Bankwest, a small but aggressive lender based in Perth.

Then came the GFC. With its parent company in Britain facing dire financial problems, Bankwest customers began withdrawing money from their savings accounts. The Reserve Bank was worried and the Commonwealth Bank saw an opportunity. Moving fast the Commonwealth took over Bankwest for the bargain basement price of $2.1 billion.

From everyone's point of view, including Australia's central bank, it looked like a good deal. But what happened next shocked customers.

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  • doyla66
    doyla66 says #
    That was a powerful program. I can't help but think that just showing the stories, like the eviction scenes on prime time TV, with
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