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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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Subscribe to this list via RSS Blog posts tagged in Royal Commission into Australian Banks
Why the banks should be nervous about Election 2016  The Drum Ian Verrender  5 hrs ago       A good thing that's all sorted. With the election campaign now in full swing, it seems almost everyone has forgotten the reason we are going to the polls. During the past fortnight, as political opponents play Punch and Judy each night on the tele, there's been nary a mention of the ABCC - the Australian Building and Construction Commission - the immediate establishment of which was so vital, it required the Prime Minister to dissolve both houses of Parliament. It's easy to see why. Cranes jostle for position on crowded city skylines as the frenzied east coast construction boom races towards its inevitable climax. Industrial disputes have fallen to levels last seen six years ago at the height of the financial crisis. And wages are growing at their slowest since records were established...
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A married couple should send in two, you are both individuals and both have been impacted by the fraudulent lending practices. In your own words a brief story of the devastation this has on your family, and a few points on why their need to be a Royal Commission. eg. inappropriate loan given Why are banks allowed to profit from fraud? Why hasn't the Aust. Fed. Police been called in to investigate every borrowers complaint of fraud. Why are banks telling brokers to shred all evidence. Banks out to seize assets. Due diligence not practiced.  Laws breached at every turn A Royal Commission called for immediately, and so on. HURRY EVERYONE WE NEED HUNDREDS.  email to     This email address is being protected from spambots. You need JavaScript enabled to view it.  ...
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  • ire
    ire says #
    We have sent in 2.
  • setup
    setup says #
    I would love to know how many Submissions have been sent in.
  • TJ
    TJ says #
    Please email your responses, if we sit on our hands instead of responding to the call we will be playing into the hands of the ban
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  https://www.finsia.com/news/news-article/2014/08/07/brogden-bullish-on-super-fees-despite-murray-concerns Brogden bullish on super fees despite Murray concerns by Andrew Starke | Aug 08, 2014 Australia’s challenge over the coming years is to take the present superannuation system from a world class accumulation scheme to the world’s best retirement system, in part by scrutinising competition, performance and fees.  In his keynote speech to the Financial Services Council (FSC) annual conference in Cairns yesterday, outgoing CEO John Brogden reflected on his five years in the role and delivered a few parting shots to critics of the superannuation system.  He predicted that calls for superannuation to fund “all of the ills in the economy” would only grow louder in the future. To counter this, the FSC have called for a national retirement income policy.  “We must embrace the opportunity and lead the debate on taking superannuation from a world class accumulation scheme to the world’s best retirement system,” he said, adding...
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WE NEED A ROYAL COMMISSION into ALL Major BANKS run by retired High Court Judge, not a panel set up by CBA!!!!!!  Do we need any further proof of how evil this banking system is?  Judge Callinan, I hope, will have the sense and value his own integrity and say NO to CBA's nefarious attempts at perverting the course of justice!  Judge Callinan is in dire danger of being smeared with same greasy brush as David Murray!  However, this move shows that consumers are on the right track regarding the power being wielded by dishonest Bankers in Australia.  Why would Ian Callinan trust Ian Narev?   Its a SET UP by the CBA.  Of course it is.   This email address is being protected from spambots. You need JavaScript enabled to view it.   http://www.theaustralian.com.au/business/financial-services/ian-callinan-to-head-commonwealth-bank-compensation-review/story-fn91wd6x-1226985548887   RETIRED High Court judge Ian Callinan will chair a review set up by the Commonwealth Bank to deal with the scandal surrounding its financial advisers. AAP  July 11, 2014   The Commonwealth Bank last...
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Comment: Amazing that CBA engineered faulty financial products started with David Murray and Joe Hockey appointed him to Roots and Branch Inquiry backs by Sen. Bushby!!.  Then he passed on to R$alph Norris - another $10 million........................Music stopped and narve left without a chair or a prayer.  CBA loyal customers reduced from retirees to pensioners overnight - same with Macquarie - . http://www.crikey.com.au/2005/09/16/david-murrays-cascade-of-cash/?wpmp_switcher=mobile David Murray’s cascade of cash Glenn Dyer writes:| Sep 16, 2005   The media went through the motions looking at the final payments to David Murray, the long time CEO of the Commonwealth Bank who retires next week.  Murray will leave the CBA with cash, shares, super and other payments, plus owning shares he’s accumulated in recent years. The value of all this (some of which will flow in over the next four years) will be around $58 million................., You have to look through the CBA annual report carefully to find the details of his pay but they are found...
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Its seems Federal Treasurer and Finance Minister Cormann were too quick to say NO to Royal Commission into Banking.  The simple answer ought to have been YES.  Now the warranted mistrust and lack of confidence in Banker Elites and their captured mates at the Australian Securities and Investment Commission ("ASIC") and the Australian Prudential Regulatory Authority ("APRA") has rubbed off onto the Government itself....all because of a three letter word: NO! The Treasurer should have known better to defend too quickly, the indefensible conduct of Bankers under the self-regulation regime for privileged Bankers who preyed on the under privileged and put profits before people.  No matter who is to blame, this problem must be exposed and severely dealt with.  We cannot stand by and see $10 million bonuses per person to those who ran amok leaving clients in financial ruin and without homes.  How does that help the economy.  The Bankers...
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https://www.commbank.com.au/about-us/who-we-are/sustainability/sustainable-business-practices/managing-fraud.html   MANAGING FRAUD To achieve our vision, we are committed to working against financial crime, and have clear guidelines for all employees regarding their responsibilities and obligations with respect to the management and reporting of fraud. Our Fraud Policy Our Fraud Policy defines the Group's fraud control principles, mandatory requirements and accountabilities. It clearly articulates that the Group does not tolerate fraud and is committed to promoting and maintaining a sound ethical culture. All employees, temporary staff, contractors and service providers must ensure they are aware of their responsibilities and obligations with respect to the prevention, detection and reporting of fraud. This Policy is applicable to all businesses within the Group, including subsidiaries and joint ventures where the Group has a controlling interest. Monitoring compliance All business unit heads are required to identify and manage their fraud risks to protect the Group’s customers, assets and reputation. All employees, temporary staff,...
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Prime Minister Abbott and sidekick Treasurer Joe Hockey seemed preoccupied this week about robbing every pensioner of $800 per year.  Low Income struggling Mum has to drop $2500 on the budget table as her contribution.  Then Joe flies out to US Bankers to hold a $50,000 dinner and flies his fav. chef first class to cook for the elites and its "truffles splendido...no expense spared."  We hope the alcohol cost wont be as high as the truffles for everyone cost.  Sounds like we are all in for a double dissolution.  What a mess!  Meanwhile Joe tells us all we have to tighten the belt but not his.  Tony tells the low income family to fork out $2500 out of measly $45,000 income, because he took $6000 out of his caviar lifestyle money.  Bit of inequality there........................... How much do we "very poor, soon to be poorer" taxpayers pay you as PM...
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  • doyla66
    doyla66 says #
    Caught some of a live report this arvo. on the ABC news channel and the State Premiers are NOT happy chappies - held an emergency
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Billions in hidden subsidies going to too-big-to-fail banks ANALYSISBY STEPHEN LETTS     ABC NEWSUPDATED WED 2 APR 2014, 10:46 AM AEDT PHOTO  Some estimates value the government support for Australia's major banks at more than $11 billion. ABC NEWS, FILE PHOTO As the first round of submissions to the Federal Government's Financial Systems Inquiry closed this week there was a timely reminder that the fundamental cause of the global financial crisis is still deeply embedded in the banking system. The world's wealthiest and most powerful banks still operate behind the shield of being "too-big-to-fail" (TBTF), an issue that former US Federal Reserve chairman Ben Bernanke fingered as a major factor in the meltdown and the ensuing economic calamity that still haunts markets and economies worldwide. Both the International Monetary Fund and the Fed have just published studies showing that, not only did the TBTF policy encourage a coterie of banks to...
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  • doyla66
    doyla66 says #
    On the back of the Federal budget it should be obvious that they need to reverse bad bank policy and claw back what's owing to tax
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