BFCSA Blog

Keith Walton must love his job.  His bank is ripping off ordinary Mums and Dads - disabled pensioners - and then hounding them into the grave for any debt left over.  No Justice for those whom ASIC has ignored.  I have seen some of Keith's handiwork and its not a pretty sight. Where is THE FAIR GO we have been promised?  Why not send me your story and we will BLOG it for the world to see what is going on in Australia right now. From a Member: In May we were forced to sell our home of 15yrs or be evicted....we found a buyer who lived near us & bought it for an investment property & we are still able to continue living here & renting for as long as we want....for months while the bank was taking us to court to evict us, we lived in fear, with nowhere...

THE ATM FIGHTBACK CAMPAIGN:  Now everyone can fight back - why not a few sticky notes on ATMs:  whenever you visit an ATM, stick this message on the side: MORTGAGE HOLDERS Ask your bank for your copy of faxed LOAN APPLICATION FORM.  See if there is FRAUD?  There will be.  If yes visit www.bfcsa.com.au and we will tell you what to do next. The point is we have less than 25 licensed banks here and a number of non bank HIGH RISK unregulated lenders.  There are millions of us as mortgage holders.  We have the numbers to demand change: change of bad banking practices; change of regulatory laziness.  We can effect change.  If there is a note re bill posting, we warn the first bright regulator try to take action against BFCSA: do you really want to hang BFCSA for posting warnings when you have allowed licensed banks to deliberately target...

Senators push to grill ASIC over failure to heed warnings DateJune 11, 2013 Read later Adele Ferguson, Chris Vedelago Zoom in on this story. Explore all there is to know. Greens Australian Securities and Investments Commission Senate Christine Milne   inShare Pin It submit to reddit Email article Print Reprints & permissions     Need for inquiry: John Williams. Photo: Supplied The Australian Securities and Investments Commission could face a government inquiry into its regulation of the financial services industry after revelations the corporate watchdog ignored whistleblowers' warnings about misconduct inside the Commonwealth Bank. The call for an inquiry comes after a Fairfax Media investigation found ASIC waited 16 months to formally investigate tip-offs about improprieties inside CBA's financial planning division that put the life savings of thousands of clients at risk. CBA has so far paid out $36.4 million in compensation to 725 victims who received ''inappropriate advice'' from seven financial...