BFCSA Blog

For years Gadens have had the lion's share of the action in the Australian Mortgage Fraud. It is a matter of public record that they have defended the perpetrators of Fraud, orchestrated the bullying and repeated efforts to intimidate blameless and innocent home owners and witnesses to the Court hearings all in the name of "Justice" - and been allowed to get away with it by some of the "bank blinded" Australian judiciary! If you'd like a few samples of Gadens' handiwork on behalf of NAB, Bank West, Ing and others use the BFCSA blog search engine or see austlii.edu.au Gadens aren't the only lawyers willing to do this type of work.  After all this BANK SCAM has been going on for years under the watchful eye of both major Australian Political Parties. All borrowers and BFCSA members should check their documentation and report in with a list of all legal...

He's the police officer used to taking on criminals and being faced with tough situations, but Sean Mcardle is tackling something that would scare the toughest of men — he is going into battle against the Commonwealth Bank. Video of program: http://aca.ninemsn.com.au/article.aspx?id=8528557 Commonwealth Bank statement: Mr McArdle commenced litigation against CBA. CBA denies the allegations made by Mr McArdle and is defending the claim. As Mr McArdle has alleged that he does not have to repay his loans, CBA has lodged a cross-claim to protect its legal position. As these matters are currently before the Court, we do not consider that it is appropriate to go into further detail concerning the legal proceedings. It is important to your story to note that the Commonwealth Bank is the only bank, of all the banks involved, to have established a Resolution Scheme which has enabled almost 2000 individuals to resolve their claims. ...

    By Barry Ritholtz, Published: June 24 Ever since the robo-signing scandal erupted in October 2010, large U.S. banks have slowly come to realize that their practices are under ever-increasing scrutiny. A “Duh!” observation for most people, but not, apparently, for bankers. Belatedly, the bankers took a closer look at their internal procedures for handling defaulted mortgages. It did not take long for them to discover that something significant was amiss. By mid-2011, most of the major money center banks had put the brakes on their normal foreclosure machinery: “What was all this sturm und drang over some bums who don’t pay their bills? Perhaps we better look into it.” (The Washington Post/Source: RealtyTrac)   Their internal review of how mortgages in default were handled revealed a surprising amount of chicanery. Indeed, most of what was going on had elements of something wrong. The banks might have been better served had they asked...

    Same tune, different words?  http://www.huffingtonpost.com/2012/02/03/mortgage-fraud-new-york-ag-schneiderman-sues-banks-electronic_n_1252793.html     Three big banks were hit on Friday with yet another lawsuit related to wrongful foreclosures. Democratic New York Attorney General Eric Schneiderman filed suit against Bank of America, JP Morgan Chase and Wells Fargo for deceptive and fraudulent use of a private database used to register mortgages, according to a Friday press release from his office. Schneiderman has been outspoken in urging the Obama administration to hold the nation's largest financial institutions accountable for their role in the foreclosure crisis, notably hesitating to join a larger nationwide case against the country's five largest banks for mortgage fraud. States now have until Monday, according to the Iowa attorney general's office, to decide to join that deal.The New York attorney general has yet to announce whether New York will participate in the deal because of concerns that joining the settlement would make it impossible...

http://www.bfcsa.com.au/index.php/entry/sophisticated-nonsense-from-broker-industry-asic-s-latest-trick What a bunch of prize idiots ASIC are! - and their desperado lobby mates are sneaky and nasty to boot.  The NCCP protects all, not just the consumers. It's because the financial sector has exploited the consumers to the max and been caught red handed that the industry sees the NCCP as protecting consumers while all the dirty laundry is still being collected and attended to, one grotty piece at a time. This is another Bransgroves - blatant self interest for the "poor" accused perpetrators of large scale crime, fraud and sundry legal scams. I'll hold Greg while you hit him for me too, Denise.  Well there's no risk of my situation ever being termed "sophisticated" at any stage of the game - unless they've put the Loan Service Calculator over every source of income to try to turn me into a baby Packer! Just because people have acquired (e.g....

This is simply brilliant! - a "creative" solution to bank angst - in particular, NAB angst. Bankslayer has done it again :)   This is my how to for creative visualization - I imagine the building is the headquarters of the National Australia Bank being demolished after they've gone bankrupt. How did the nab go bankrupt? Well, after months of campaigning politicians finally did the right thing and there was a Royal Commission into Bank Malpractice. Following even more months of evidence including that of victims of the bank such as Ozzie Inak and Rosie Cornell as well as numerous expert witnesses the nab was stripped of it's license to trade as a bank. Unable to be a fully functioning bank their shareholders abandoned them.  After considerable whingeing the nab was declared bankrupt. See how easy creative visualization is? Help me out - if you're an Aussie demand your Federal MP...

I've read somewhere that banks make money in numerous ways when a borrower default, especially a business borrower. Could anyone enlighten me on this? If this is true then maybe banks don't like borrowers defaulting just because it's extra work. If bank do make money from defaults in ways that most people probably don't know about then we should tell the Senate Committee.   BTW - people have been horrified by what was done to Sean Butler and to the farm animals left to starve. Nice people can't believe this is happening, nor that Sean Butler was threatened by a firm the day before he was to give evidence at the Senate Inquiry. At least if they do anything to him everyone knows now and he can tell the Senate. It's like something out of a gangster movie.  ...

by: Richard Gluyas From: The Australian August 06, 2012 12:00AM IAN Narev, Commonwealth Bank chief executive, could be called before a Senate banking inquiry to answer suggestions that Commonwealth and its subsidiary Bankwest went into "panic mode" and called in performing loans during the global crisis. National Party senator John Williams, who helped move the motion to establish the inquiry into banking since the global financial crisis, said he was "disappointed" that Mr Narev would not appear when public hearings kicked off this week. "But we have the power to summons Mr Narev, like with (his predecessor) Ralph Norris when there was the same kind of problem over the Storm Financial collapse," Senator Williams said. "We sent Mr Norris another letter and he soon turned up." A Commonwealth spokesman said no other bank chief executive was attending, and the four Commonwealth executives who would appear had the necessary "detailed expertise"...