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.
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.
'I've never been more ashamed to be Australian in my life'
By Louise Cheer for Daily Mail Australia <http://www.dailymail.co.uk/home/search.html?s=&authornamef=Louise+Cheer+for+Daily+Mail+Australia>
Published: 11:36 AEST, 11 December 2014 | Updated: 19:28 AEST, 11 December 2014
http://www.dailymail.co.uk/news/article-2867951/I-ve-never-ashamed-Australian-life-Farmer-pens-emotive-letter-comparing-banks-terrorists-treatment-drought-stricken-farmers-s-gone-viral.html#ixzz3LYUWbc1E
And there was something far worse in the room on Friday: the fear of speaking out against the banks: when we asked people to tell us who had done this to them, they would immediately start to shake and cry and look away: They have been silenced to protect the good corporate image of their tormentors called the banks. What in God’s name have the b*****d banks been allowed to do to our people?
This is a travesty against the rights and the human dignity of every Australian
So it's only fair that we start to name a few of major banks involved: The ANZ is a major culprit (they made $7 billion profit last year). Then there...
http://beta.macrobusiness.com.au/2014/05/the-corrected-cba-hia-housing-affordability-index/
Posted by Unconventional Economist in Australian Property
Featured Article at 11:33am on May 30, 2014
By Leigh Van Olsen
Over the past two days (here and here) I have uncovered how the the CBA-HIA housing affordability index, which shows Australian housing affordability at its most favourable level since March 2002 (see next chart), is built on highly dubious data........
The main issue centres around its dwelling price series, which is based on home loans financed by the CBA during the quarter, and curiously shows that Australian home prices have been falling, despite every other data provider (including the ABS) reporting strong price growth (see next chart).............
As shown above, the CBA-HIA measure of median dwelling prices curiously claims that home values fell by 2.7% in the three years to March 2014, whereas the official ABS property price index shows an 11.3% increase in dwelling values over the same period....
http://www.smh.com.au/articles/2004/03/12/1078594564439.html
Currency cowboys' last stand
March 13 2004
Despite repeated warnings from outside parties, NAB's fabulous four continued their wild ride largely unchecked, write Kate Askew and Anthony Hughes.
The band of four thirty-something currency options traders - Luke Duffy, Dave Bullen, Gianni Gray and Vincent Ficarra - were so barefaced in their deception that it even grabbed the attention of their counterparts at rival institutions. So concerned was ANZ Banking Group about the aggressive and volatile trading activity of the National Australia Bank's currency cowboys, it decided in March 2002 to approach the NAB directly.
ANZ, like just about everyone else in the high octane world of currency trading, knew something was horribly amiss. There was talk of phoney transactions to cover huge losses and fraud on a massive scale. As it turns out, they were right. The man given the task of dealing with the ANZ's concerns was Gary...
After reading this article yesterday, I am shaking my head with disbelief and so must the writer be doing so. Macrobusiness is on the money here with Leith van Onselen's words of wisdom and quotes from Guy DeBelle:
"In short, Australia should be wary of the unintended consequences of increased mortgage securitisation, and the re-emergence of sub-prime loans in particular. Previous episodes have led to a significant loosening of credit standards.........................."
Who are the dumbo's buying these loans? 40% overseas buyers? Really? Income streams as an "asset" when sub prime means "little or no income...... and definitely involves FRAUD BY SERVICE CALCULATOR" This is going to only end in tears - yet again! Where is the Government? Having a 12 month Easter break? I will send this article out to all the PEPPERS, CBA and NAB victims of dodgy toxic sub prime loans we are currently looking after......................so these Mums and Dads can...
Well this is no surprise to the victims of Bank Internal Mortgage Fraud and Maladministration in Lending by Major Australian banks. Will they donate their parting bonuses to BFCSA and the victims of their SERVICE CALCULATOR heist as they run for the EXITS?
Leaving us on the bucket and mob brigade? YES BIG clean up long overdue.................. Doing a bit of shredding Gail? This email address is being protected from spambots. You need JavaScript enabled to view it.
BREAKING: Big bank gets new deputy amid succession rumours
Australian Broker News http://www.brokernews.com.au/news/breaking-news/newsletter-185066.aspx
by AB | 07 Mar 2014
Westpac has appointed finance head Phil Coffey to the newly-created role of deputy chief executive officer, amid whispers of when an announcement can be expected on the future of CEO Gail Kelly.Coffey has been the bank's CFO since 2005, with previous roles at the Reserve Bank and Citicorp.The fact he was promoted by Kelly – who has worked at Westpac for nearly two decades and shows no sign of...
'I've never been more ashamed to be Australian in my life'
By Louise Cheer for Daily Mail Australia <http://www.dailymail.co.uk/home/search.html?s=&authornamef=Louise+Cheer+for+Daily+Mail+Australia>
Published: 11:36 AEST, 11 December 2014 | Updated: 19:28 AEST, 11 December 2014
http://www.dailymail.co.uk/news/article-2867951/I-ve-never-ashamed-Australian-life-Farmer-pens-emotive-letter-comparing-banks-terrorists-treatment-drought-stricken-farmers-s-gone-viral.html#ixzz3LYUWbc1E
And there was something far worse in the room on Friday: the fear of speaking out against the banks: when we asked people to tell us who had done this to them, they would immediately start to shake and cry and look away: They have been silenced to protect the good corporate image of their tormentors called the banks. What in God’s name have the b*****d banks been allowed to do to our people?
This is a travesty against the rights and the human dignity of every Australian
So it's only fair that we start to name a few of major banks involved: The ANZ is a major culprit (they made $7 billion profit last year). Then there...
That article is so true. Old time farmers like the man in the article are quiet, proud and honourable people who just go about the
Bob & Robbie you da man, or da men..THANK YOU for your passionate efforts to expose these parasite BANKS and helping the people
