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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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http://www.theage.com.au/articles/2004/06/15/1087244895759.html?from=storylhs  The mortgage wars  June 15, 2004   The home-loan market is shrinking, the banks want their profits back, and the mortgage brokers will be fighting for survival, writes James Kirby. Stand back for a bruising battle in the $100-billion mortgage broker market. Falling house prices, shrinking loan volumes, and tougher regulation spell trouble for an industry that has never faced a downturn. Worse still, the banking industry is waking up to the fact that it threw away profits to this upstart sector in the good times. Now it wants the money back. ............. The banks have already made their first moves. On June 1, the Bank of Queensland cut all ties with mortgage brokers.   The move by the thriving Brisbane bank has set off alarm bells throughout the mortgage broker market. The Bank of Queensland's chief executive, David Liddy, says: "We decided to go back to doing it ourselves with our...
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UK Lawmakers Call For 'Reckless' Bankers to Face Jail   Published: Wednesday, 19 Jun 2013 | 1:43 AM ET Britain should introduce laws making it possible to jail "reckless" bankers and claw back past bonus and pension awards, an influential panel of lawmakers said on Wednesday. The Parliamentary Commission on Banking Standards, set up by the government last year after Barclays was fined over the manipulation of global interest rate benchmarks, said deep lapses in standards had been commonplace and recent scandals had exposed "shocking and widespread malpractice".  "Taxpayers and customers have lost out. The economy has suffered. The reputation of the financial sector has been gravely damaged. Trust in banking has fallen to a new low," the commission's chairman Andrew Tyrie said in a 500- page report.   The cross-party group, which includes former British finance minister Nigel Lawson and Justin Welby, head of the Anglican church, recommended senior bankers...
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  • doyla66
    doyla66 says #
    Lisa, law-makers must apply commensurate custodial sentences upon any would be "home-thief" no less than a "bank-thief" & they are
  • doyla66
    doyla66 says #
    Yes, Andy. I was wondering how they figured it out. Looking at the broker case there was a fine x number of counts plus jail. I t
  • doyla66
    doyla66 says #
    Why, indeed, Denise? If Australia follows on track with public sentiment and overseas trends there will be bank staff and senior
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The Low Doc Loan scam is set to escalate.  Australian Securities and Investment Commission ("ASIC") could have stopped this Tsunami of financial misery,dead in its tracks in 2003.  ASIC knew the model and the role of the banks in approving such dastardly loans.  These mortgages were designed by clever Bank Engineers to present as 30 years loans, but geared to self implode in less than seven years.  The Banksters involved were simply after BIG business and were prepared to sacrifice ethics, honesty and compassion for the sake of their own fat retirement obsessions.    These Bankers were/are criminals, engaging in criminal work in splendid fashion and protected by the regulators as "Too Big To Fail."    The moral compass had been thrown out of the top floor window in the late nineties.   All ASIC had to do was ensure that every page of the Loan Application Form was signed and...
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  • doyla66
    doyla66 says #
    ASICs overseers have not been strong enough. 2003. This is totally unacceptable. What we need in Australia is mandatory regulatio
  • doyla66
    doyla66 says #
    Why is the banking code of conduct like an old boys club? The authorities ( not ASIC) should lay down the rules and make it compul
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Pssst SNEAK PREVIEW:  Want to see the Bankster Passwords for Skippy the Computer? Go to the top of this page, to BREAKING NEWS.  Go to ASIC EMAILS and hit on the LINK.  Type in the search area: "Skippy" The best is yet to come for the long suffering borrowers:..........why did the service calculators have TWO different gearings? Things the Banks forgot to tell the Brokers......................... No risk and all play policy................now that's ingenious.................Ned Kelly would have loved those. Which bank started the "shred the LAF craze?" What does FOS do with its $34 million budget? Or ASIC $400 million budget?    Should try and work with the BFCSA budget chaps - just for LAFs! Puts a whole new spin on "bank bandits" But wait their's more.....................Keep reading.  We are just getting started! This email address is being protected from spambots. You need JavaScript enabled to view it....
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  • doyla66
    doyla66 says #
    I was told by my broker: "after loan are approved we are to shred all the documents"......... Now I know why. All corporations un
  • doyla66
    doyla66 says #
    Well said, Mort. On the same page Lisa A feeling human being despite all
  • doyla66
    doyla66 says #
    Many, many thanks to Denise. Honesty at last. Once the massive evidence is viewed, there will be justice. How can banks, suppo
  • doyla66
    doyla66 says #
    The old saying that "money is the root of all evil" is so true. Greed from Bank Managers and Executives causes so much suffering a
  • doyla66
    doyla66 says #
    I have a sense that what we're looking for is "temperance". What we have observed and experienced in our dealings with the Banks a
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