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BFCSA
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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 Parliament Misled by Regulators
   ASIC’S FALSE AND MISLEADING RESPONSE TO PARLIAMENT contained in their supplementary submission #45.1.  BFCSA responded to these in our Supp Sub # 156.1   IN BRIEF AND KEY POINTS   Response to 85 & 86  (pg 23)  ASIC states: “there was no specific onus on lenders to ensure that borrowers could afford to repay loans.”  (see s 25.1 of the Bankers Code – now 27.1)   That is a false assertion and likely to mislead the Senators and the Inquiry.   Response to 95 (pg 24) “ASIC has been looking for evidence of breaches of the law.”   Response to 96 (pg 24) “It is difficult to establish that conduct is unconscionable”   Response to 97 (pg 25) ASIC states: “Context of earlier laws……the material provided by borrowers does not provide evidence of breaches of the law by the credit providers involved.  It does not establish:   a)Lenders had awareness...
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  • doyla66
    doyla66 says #
    Judging from the blogs,I have no faith in the system which is supposed to protect the consumers. Once screwed, twice shy. Banks, A
  • doyla66
    doyla66 says #
    I agree, Honesty. It may not be unconscionable to ASIC or their staff who have seen so much of this conduct. It would be fair a
  • doyla66
    doyla66 says #
    If altering a "direct debit request" ,and re-configuring a loan agreement to suit the brokers agenda of getting the loan approved,
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The Australian Federal Government must approve a Royal Commission into the Banking And Finance Sector: here is why: What we already know and have the proof of:--  The issue is a giant fraud involving between  $57 Billion and $100 Billion. We also KNOW that a massive percentage of fraudulent and imprudent loans are TOXIC FULL DOCS.....no brokers involved! A devious business plan was devised and executed by the Banks 36 lenders including the Majors in the mid nineties here in Australia.       Set patterns emerged and we have emails between the lenders staff and brokers which we have decided to load onto the LINKS in "Breaking News" at the top of the Home Page.  See above. ·         The victims are left with impossible lifetime of debt and they have painstakingly listed the discrepancies/fraud on their Loan Applications.  These were fudged figures devised by a service calculator and not by the Broker/Planners.  BFCSA...
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  • doyla66
    doyla66 says #
    They're in on it, benefiting from the scam. No need for a Royal Commission for that very reason. Can you imagine Kell answering a
  • doyla66
    doyla66 says #
    Can you imagine Kell answering any questions? -"I wasn't aware of that, thanks for telling me". - good one, Maria. Agree - scam
  • doyla66
    doyla66 says #
    ROFLMAO - - - "FOS - aha" Nice one you 2 - nailed it! What was that? NAILED IT!!
  • doyla66
    doyla66 says #
  • doyla66
    doyla66 says #
    Transparency: Corruptions Perception Index: A country [email protected] a "lid on corrupt activities" will rate higher in that index; -
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