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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 Westpac Ghosts
http://aca.ninemsn.com.au/article/8852388/nasty-conman-ripping-off-elderly-parents Perhaps you really need to ask Gail Kelly how much in bonuses she plans to collect on retirement?  This email address is being protected from spambots. You need JavaScript enabled to view it. See my interview and thoughts on the matter.................. INTEREST ONLY LIAR LOANS are up 39% last quarter according to Bloomberg.  Westpac no stranger to approving fraudulent loans.   Our files bear witness to the truth.  ...
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Every wonder how much money banks are making on each credit card per year?  MEGABUCKS.  Time to stop the rot, but I can only do this with your assistance. If you are on a pension and have finished your working life with monstrous credit card debt....here is a BFCSA solution for you.............................. Dear Imprudent Banker CEO: Mrs Dxxxxx is 78 years old and lives alone.  As a lifetime worker she retired in 1999.   She exists on an aged pension and owns her own home.  She has been a loyal customer of Major Bank for some 52 years.  The only debt she has is a credit card debt of $14,000.  Had she had this small amount on a P & I mortgage the debt was extinguishable in the long term at a much reduced rate of pay.  The current credit card products has been designed as a “till death do us part,”...
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ABC:   Australian banks financing companies accused of land grabs, illegal logging and child labour: Oxfam By the National Reporting Team's Sam Clark Updated 10 minutes ago PHOTO: A sugar cane worker in Kampong Speu province, Cambodia. (ABC News: Sam Clark) MAP: Australia Leading Australian banks are financing companies accused of land grabbing, child labour and illegal logging, according to an Oxfam report released today. The report, Banking on Shaky Ground, identifies four cases in Cambodia, Papua New Guinea, Indonesia and Brazil where Australia's biggest banks have funded - directly or indirectly - companies accused of improperly or illegally acquiring land from local people. Oxfam's chief executive Helen Szoke said the big four - National Australia Bank (NAB), Commonwealth (CBA), Westpac and ANZ - are not living up to their image as global leaders in sustainable banking. "There is a gap between what the big four banks say they do and what they actually do,"...
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  • doyla66
    doyla66 says #
    It's pure evil to the point I feel ashamed to be an Australian for nobody in authority are prepared to put a stop to what they hav
  • doyla66
    doyla66 says #
    If banks are involved in illegal activity in Australia it comes as no surprise that they're involved in unethical conduct as well.
  • doyla66
    doyla66 says #
    Of course they'd have their dirty grubby money hungry hands into illegal and unethical operations as per usual. Any way of making
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Murray Inquiry Panned - the elephant in the room - a conflict of interest Mr Murray?  Do you not see how wrong this is? http://www.macrobusiness.com.au/2014/04/conflicted-murray-inquiry-bashed/? There are three articles around this morning aimed at the big banks and the Murray Inquiry. Opening us up isChris Joye who slams everyone, quite rightly, but especially Ian MacFarlane: Consider, for example, how rapidly our “game-keepers” become “poachers”: the last two Reserve Bank of Australia governors, Ian Macfarlane and Bernie Fraser, and the last two Treasury secretaries, Ken Henry and Ted Evans, all joined banks’ boards – ANZ, ME Bank, NAB, and Westpac – after leaving office. The second in charge at Treasury, David Morgan, became Westpac’s chief executive in the 1990s and 2000s. …Macfarlane also claims the 2008 and 2009 shocks that resulted in the bigger banks seeking government guarantees of their wholesale debts – most smaller banks did not use them – “[were] a...
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Major Bank ramping up the bonuses to insider broker agents............more debt....................more loans......more misery.......Banks propping up hideous PONZI. Wait for Bubbles in property market to burst.   Its going to be very messy indeed.  Informant?  Little Birdie.....so Banks are desperately offering in house brokers big bucks. Major Banks will drift away from their external agents............................................. Problem with a PONZI - just like Bernie Madoff - you simply run out of people to financially ruin.  Can you hear the gurgle in the pipes?  These banks are unsustainable when promoting faulty products.  Have a look at potential domino effect on ASX..........serious stuff. This email address is being protected from spambots. You need JavaScript enabled to view it....
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  • doyla66
    doyla66 says #
    And if that incentive doesn't work, maybe Banks will advertise their fabulous introductory flexible fresh-as-a-daisy mortgage rate
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Joe Hockey gives financial system inquiry international flavour Georgia Wilkins March 24, 2014  The Australian    Treasurer Joe Hockey has been accused of drawing too heavily on the advice of investment bankers and hedge fund managers to guide the government's financial system inquiry. The Treasurer appointed four business people to head the inquiry's international advisory panel, including former Goldman Sachs investment banker Sir Michael Hintze and JP Morgan investment banker Jennifer Nason. Sir Michael is the founder of $12 billion London-based hedge fund CQS and is a prominent philanthropist and donor to the Conservative Party in the UK. Also on the advisory panel is former Westpac chief executive and Treasury deputy secretary David Morgan, who is currently head of private equity group JC Flowers in Europe and Asia, and former central banker Andrew Sheng, head of the Hong Kong think tank Fung Global Institute. Mr Hockey said the panel would advise the...
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  • doyla66
    doyla66 says #
    Well what a big surprise - Joe has turned out to be a big turncoat after all and has opted to hedge his bets!
  • doyla66
    doyla66 says #
    I agree, Walt. Lots of people placed their trust in Joe's Banking and Finance Industry Inquiry, which was supposed to be like the
  • doyla66
    doyla66 says #
    If it is going to be a half cocked cover up, you all know how it goes "nothing to see here" then save us all the pain suffering an
  • doyla66
    doyla66 says #
    Makes you wonder if the government is trying to clean up the banking industry doesn't it. Some of the very people who caused this
  • doyla66
    doyla66 says #
    EXACTLY. How can we consumers and citizens of Australia have any confidence in our Leaders.. we are just like lemmings heading for
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ASIC bans former Westpac bank home finance manager in relation to false loan applications Wednesday 12 March 2014 ASIC has permanently banned Mr David St Pierre, a former Westpac Bank Home Finance Manager from engaging in credit activities and providing financial services. Mr St Pierre, of Mt Nathan, Queensland, was a Home Finance Manager for Westpac Bank between September 2000 and April 2011. An ASIC investigation found that between July 2008 and June 2010, Mr St Pierre: ·         submitted loan applications to Westpac for approval when he knew that they contained false information and that they were supported by false documents ·         failed to prepare an authority that accurately identified the payee of a cheque with the result that a customer cheque for $215,000 was paid into the personal trading account of a non-office holder of Capital Growth International Club Pty Ltd (CGIC), and ·         enabled and encouraged customers to borrow...
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  • doyla66
    doyla66 says #
    Declan Carnes - infamous Bank Manager of BOQ and storm financial case is back in court today with another. This victim is not stor
  • doyla66
    doyla66 says #
    So how do ASIC see the bank engineers of this fraud as fit and proper persons??? They're ruining lives across the country!! ASIC-
  • doyla66
    doyla66 says #
    May I ask what this is all about Mr. Michael Kingfisher Smith? I note well that failure to make a decision, or take action, or de
  • doyla66
    doyla66 says #
    Looking at this horse in the mouth reveals......... ANZ Administrator Global Retail Credit Policy Team ANZ Automated credit asses
  • doyla66
    doyla66 says #
    One down and thousands more to go. one after the other just like falling dominoes.
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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...
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  • doyla66
    doyla66 says #
    And from 2000 till 2013 banks robbed aussies of their homes !!!! well done Peter KELLl, good job, you must be very proud of yourse
  • doyla66
    doyla66 says #
    You are so right Honesty - from wikipedia Kelly started work at the Nedcor Bank in 1980 as a teller but was fast-tracked into an
  • doyla66
    doyla66 says #
    Don't know where this reporter got his info from but Ms Kelly hasn't been working for Westpac for 2 decades,from memory she has be
  • doyla66
    doyla66 says #
    One big enigma indeed re the next move of Mr. Mike Kingfisher Smith! Is he planning to soon retire himself as per a few rumors I
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ANZ & Westpac have been undertaking  their own in house LMI since well before 2007 What you need to do is bury a level deeper than this. Look instead at the capital requirements for Lenders Mortgage Insurance providers (AGN 112 I think). Look at how APRA watered down the capital requirements on LMI providers post their consultation papers, with only 1 real LMI provider in the market.  Look at how much capital APRA makes LMI providers set aside for the riskiest of risky mortgages it insures for the banks.  Remember these are the mortgages that people take insurance out against because they don’t have the cash for a decent deposit.  Then the banks take this risky mortgage insurance and use it as a credit mitigant to offset the cost of their capital.  Talk about insurance leverage, on bank leverage, on an asset bubble ( housing ), geared to a leveraged commodity...
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  • doyla66
    doyla66 says #
    It is my understanding that they have already (very quietly) imposed a .1% levy,charge, tax (insert your own definition) on ALL sa
  • doyla66
    doyla66 says #
    Yes sneaky things going on behind backs and bail-in I believe selected from the menu so everybody better check out this site and c
  • doyla66
    doyla66 says #
    A terrifying proposition, the Australia Financial Industry leveraged to the max. Property build on a foundation of champagne bubb
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  The banks have the government pretty well licked, as you know. Tame as can be, those assorted regulators, bureaucrats and ombudsmen. But will somebody please tell the Tuggerah Lakes police that the banks are above the law. There seems to be a misapprehension by the local constabulary that the banks are somehow subject to the laws of the Commonwealth. It is a mix-up that surely will be remedied in short order. In the interim, detectives from Tuggerah Lakes police station are investigating St George Bank. And Westpac, which owns St George, has begun to assist. They didn't like it at first, and refused to comply with a magistrate's warrant, then dragged the chain on a judge's warrant but, when confronted by police with a contempt of court rap, lapsed into avid co-operation. Unfortunately, the man they blame for the missing loan documents at the centre of the Tuggerah Lakes police...
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  • doyla66
    doyla66 says #
    Tom I think you were just being a little harsh on Gail Kelly I feel sure she was doing the homeless thing for the right reasons an
  • doyla66
    doyla66 says #
    The big difference on the streets is the notional freedom. The choices are limited but for some that's preferable to a jail cell.
  • doyla66
    doyla66 says #
    What a superb tale! Naughty banks and clever cops - busting open the Bankster shennagins and machinations. All in a day's work at
  • doyla66
    doyla66 says #
    Just another sordid tale of the lenders greed. It is amazing the different cases that keep cropping up all the same ending. Lende
  • doyla66
    doyla66 says #
    Michael West (save Mark Twain) superbly puts into context how bank$ters got "rich-quick" digging up $100m FRAUD NUGGETS while home
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