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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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ASIC cracks down on mortgage brokers NOT BANKS who approve loans....what is going on? Posted Thu 23 Jan 2014 The ABC reported "ASIC cracks down on Mortgage Brokers." "The corporate regulator is cracking down on fraud in the mortgage broking industry. The Australian Securities and Investments Commission says investigations into at least 20 brokers are underway. Mortgage brokers shop around for the best deals, usually for no charge, because they're paid a commission by the lender. But ASIC has accused some of falsifying loan applications."  READ THE TRANSCRIPT:  be prepared for nausea!   http://www.abc.net.au/news/2014-01-23/asic-cracks-down-on-mortgage-brokers/5215098 Yes embarrassingly for our Nation, ASIC is cracking down on Brokers BUT NO BANKS who approve the dirty loans.  Brokers are not qualified, nor licensed to approve loans.  Dirty Lending Policy starts with approvals of unaffordable mortgage loans to older Australians.  ASIC have given GREEN LIGHT to Banksters to continue with glee.....and immunity from charges being laid. Borrowers...
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Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    Maybe Maurice Blackburn might want to take on a class action for all the victims of loan application fraud. Let's hope one small v
  • doyla66
    doyla66 says #
    Today's million dollar question Tom - surely not themselves!
  • doyla66
    doyla66 says #
    Not too many brokers in the Credit Cards fees rort --= who is ASIC going to blame -- surely not the banks
  • doyla66
    doyla66 says #
    Where was ASIC when they banks were charging exorbitant penalty fees , hard to argue that with over 140,000 in one bank affected
  • doyla66
    doyla66 says #
    ANZ was today unsuccessful in the courtroom trying to stop charges laid against them of inflated fees and charges (dishonour and l
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