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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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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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Subscribe to this list via RSS Blog posts tagged in Gregory Medcraft
The Australian Securities and Investment Commission ("ASIC")  is under fire in a major way.  The gates are open for everyone to send in a submission and a second one if you so choose.  ASIC had three tasks: the regulation of financial products and service - banks were the engineers , consumer protection a priority and, consumer confidence in the market place - the world of Banking. End users of ASIC's services, for over a decade, have slam dunked ASIC's ability to master the art of consumer protection and consumer confidence.  The submissions show the regulator has failed on all levels.  The bleating of apologist Greg Medcraft as Chairman of this debacle are pointless at this late stage.  He had a chance to get tough and acted as a limp lettuce, pursuing instead, his own career ambitions as head of IOSCO.   His lordship spends his days on junkets around the world doing very little if anything, for consumers in Australia.   IOSCO has not held...
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  • doyla66
    doyla66 says #
    So ASIC would rather see borrowers adrift in the sea of confusion and pain, all on their own and up against it, completely without
  • doyla66
    doyla66 says #
    worth a read ASIC‟s performance We are generally very impressed with ASIC's performance as a regulator of the areas of consumer l
  • doyla66
    doyla66 says #
    No one is too big to jail, Wall Street cop says Although Hollywood has a movie starring Leonardo DiCaprio as the "wolf," the real
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Given the seriousness of the Australian Sub Prime Full Doc and Low Doc Mortgage Crisis we really do require an answer to this from the Federal Government. Why was Greg Medcraft chosen and why was he chosen with a waiver of tender Prime Ministerial approval?  He needs sacking immediately and we know why.  Consumers are in grave danger when they ought to have been protected.  Medcraft placed consumers in harm's way and heading for financial ruin and despair.  There has to be a whole of parliament approach to this nonsense. BFCSA Member asks this: Senator queries PM's giving 'a mate' $700k ASIC job."Its run by someone who has a cloud over them. What on earth is going on here?"  ABC-Radio: Senator Cormann; "the Govt threw their own processes overboard when it came to appointing Mr Medcraft as chair of ASIC. ..It didn't do it's homework & without going through proper process....
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  • doyla66
    doyla66 says #
    Seven years - - an appointment like that can't be sustained - only thing is that Australian Govt would have to pay out his salary
  • doyla66
    doyla66 says #
    And the Government has extended the Medcraft appointment for 7 years. SCANDAL!
  • doyla66
    doyla66 says #
    Gaby, did fellow BFCSA members "break-a-mirror"? Have no doubt --Medcraft's dubious tenure is on "borrowed" time, pardon the pun!
  • doyla66
    doyla66 says #
    ASIC Chairman ~ Greg Medcraft BCom (Melb) was appointed ASIC Chairman on 13 May 2011 for a five-year term. Greg joined as ASIC Co
  • doyla66
    doyla66 says #
    You hear of not being able to trust a politician but this is going too far. How can the Prime Minister give a job to a mate withou
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