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BFCSA
MORTGAGE
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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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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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Australian consumers of mortgages, whether FULL DOC or LOW DOC are far better off without any regulator at all, than trust ASIC.    Reliance on ASIC caused consumers to believe there was regulatory industry oversight, enforcement of law, corporate policing.  When the full extent of this scandal is revealed, it will rock the nation and cause thought-provoking economists to gasp.  Had ASIC placed a massive sign on each of the buildings as a serious warning to consumers, no-one would have even thought to TRUST A BANKER.  ASIC is breaching a very old REGULATION called: PASSING OFF.  ASIC is passing itself off as a consumer protector when it clearly is protecting its Bank Buddies.  Slight case of "Malfeasance in public office." In the interest of Consumer Protection the sign ought to read:   "ASIC PROTECT BANKS......NOT CONSUMERS.....please be warned." In order for ASIC to continue its historical DO NOTHING POLICY, now in...
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  • doyla66
    doyla66 says #
    Thankyou, Denise, for spelling it out so clearly. You are absolutely right about the situation. My journey into the regulatory wi
  • doyla66
    doyla66 says #
    When we first got on the no doc, low doc, full doc merry go round in 2007 we bombarded Canberra with letters and phone calls plead
  • doyla66
    doyla66 says #
    "An anonymous source said ASIC's internal complaint system was useless and the human resources team unsupportive, and that time wa
  • doyla66
    doyla66 says #
    I do hope the SMH story has some teeth seeing there is a FEDERAL election soon, so the next few months will be very important to h
  • doyla66
    doyla66 says #
    What chance does the Australian borrower stand with this type of fraudulent behaviour from supposedly trustworthy organisations...
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Financial services regulators receive little
Dear Mr Shorten, Please do not waste $7.4 Million on Australian Securities and Investment Commission.  They waste $400 million per year and do nothing but gather data and hand out parking tickets to financial planners - and oh I forgot they actually do collect $700 million in lovely corp fees per year and charge us poor public for database use for information that actually belongs to us taxpayers.  So we pay them to do some photocopying and registering documentation and they sell it back to us for $30 a sheet!!!  We know its a CASH COW for the Federal Government - chaps get a cool $300 million for jam. Small Businesses get slugged for the same processing of business names.  ASIC's fees are the highest in the WORLD.  IOSCO ((International Org of Security Chiefs - (www.iosco.org) 178 international members who could not see the GFC coming.....)) know this and, ah that's right,...
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  • doyla66
    doyla66 says #
    Reading this garbage from the government makes me feel sick. How out of touch can they be? Why are they adding insult to the exi
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