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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From My Window

These are blogs which are not specific to any other categories

Subcategories from this category: Time to Relax, COURTS & LEGALS

Recent posts from this category

  • We can't 'hold back the tide' in housing market: APRA's Wayne Byres

    Posted by organza - 0 Comments
    The financial curse - watch the video!       We can't 'hold back the tide' in housing market: APRA's Wayne Byres   Clancy Yeates   28 April 2017-04-28   Australia's powerful banking regulator has stressed it cannot "hold back the tide" of the property cycle and exert control over house prices, underlining the limitations of recent curbs on bank home lending.  Wayne Byres, chair of the Australian Prudential Regulation Authority, highlighted this reality as he also flagged "further tightening" from banks in the $1.5 trillion mortgage market.   In response to a rapid build-up of household debt and soaring Sydney and Melbourne house prices, Mr Byres last month unveiled new caps on interest-only lending by banks, causing lenders to raise interest rates for some borrowers.  ANZ was the latest bank to respond on Friday, raising fixed interest rates for customers taking out interest-only home loans by up to 0.4...
    Apr 28 Tags: Array
  • Inside the House of Reps banking inquiry

    Posted by organza - 0 Comments
      Inside the House of Reps banking inquiry   By Christian Edwards   1 Day ago   Banking     The political divide within the House of Representatives Standing Committee on Economics inquiry into the banking sector has been thrown into stark relief with the public release of its second report, revealing the frustration of non-government members forced to march to the majority’s beat.   In November 2016 the government-heavy, ten-member committee - including three Opposition and one Greens member - tabled its first ten recommendations to improve the banking system for Australian consumers.   According to committee chair, Liberal MP David Coleman, the second report affirms these and calls on Government implementation, as well as backing the abolition of non-monetary default clauses for loans to small business – a matter examined by the Australian Small business and Family Enterprise Ombudsman, Kate Carnell.   “Each of these Recommendations should...
    Apr 28 Tags: Array
  • BFCSA: ATSB look guilty of Australian cover-up re MH370 Malaysia crash. Disgraceful denial of FOI docs.

    Posted by Denise - 0 Comments
    ATSB ‘look guilty of cover-up’, says MH370 victim’s widow The Australian 12:00am April 20, 2017 Ean Higgins   Australian and Chinese families of those who died on Malaysia Airlines flight MH370 yesterday expressed outrage at Australian authorities’ refusal to release crucial documents, with an Australian widow saying it made them “look more guilty” of a cover-up. Danica Weeks, whose husband Paul perished when the flight went missing three years ago, called on Australian Transport Safety Bureau chief commissioner Greg Hood to reverse his decision to reject a freedom of ­information request from The Australian. “Who are they trying to save face for; is it the Malaysians or the ATSB?” Ms Weeks, who lives on Queensland’s Sunshine Coast, said yesterday. Mr Hood upheld another ATSB officer’s decision to not ­release opinions of an international team of experts about satellite data which the bureau claims support its theory that MH370 went down in...
    Apr 20 Tags: Array
  • BFCSA: New Bank data on investor loans may prompt APRA action. Don't hold your breath.

    Posted by Denise - 0 Comments
    APRA should have been more diligent on monitoring data!  F for fail!  Problem for APRA,  they have simply been passing on Bank stats to Treasury and banks lie all the time as to true stats.  So we end up with FAKE STATS and DATA.     New Bank data on investor loans 'may' prompt APRA action 26 March 2017   Locally is also a bit light-on in terms of fresh data, although February's Reserve Bank's private sector credit survey (Friday) will be keenly watched given investor lending for property appears to have slipped from under the bank regulator's thumb and is growing rapidly again. APRA has bluntly told the big banks they are running near the 10 per cent annual growth speed limit for investor loans. The banks responded by jacking up mortgage rates — particularly for investors — and tightening lending rules. Another spurt could see the lending speed...
    Mar 26 Tags: Array
  • BFCSA: Now we have Captain McFlurry telling Macca's what to do...........Like its SO URGENT!!

    Posted by Denise - 0 Comments
    If this sort of crap goes on we’d be better off running the country down to public servants working at Maccas and the PM’s trusted asxeman lobbying for Milo McFlurrys’ to be on the menu!  So much for national broadband...and who was responsible for that mess?   Senator James McGrath writes letter to McDonald’s Australia boss to get the Milo McFlurry here Claire Bickers, News Corp Australia Network March 3, 2017 12:48pm A TURNBULL Government minister with a well documented love of Milo is now petitioning McDonald’s to introduce the “Milo McFlurry”. Queensland Senator James McGrath, who is also the Assistant Minister to the Prime Minister, has written to the fast food giant to lobby for “this very Australian dessert” to be added to its menu. The senator took up the fight after McDonald’s Malaysia announced it would reintroduce the Milo McFlurry and McDonald’s Australia confirmed it had no...
    Mar 04 Tags: Array
  • Show all entries from From My Window

Recent posts from this category

  • BFCSA: What Would it Cost a Country to Leave the Euro? That’s What Everyone Suddenly Wants to Know

    Posted by Denise - 0 Comments
    You wouldn’t want to have your money tied up in Australian bank's   shonky hydrid bonds!    No wonder it’s back to re-financing and securitisation!    What Would it Cost a Country to Leave the Euro? That’s What Everyone Suddenly Wants to Know by Wolf Richter • Feb 7, 2017   It’s the closest the Eurozone has come to falling apart. Marine Le Pen, the leader of the National Front, will get enough votes in April during the first round of the French presidential election but will be defeated in the second-round runoff in May, according to the polls. So at least hopes the French political class, and by extension the European establishment. They’re hoping Le Pen would be defeated because she is campaigning on taking France out of the euro (after holding a referendum) and re-denominating the entire €2.4 trillion pile of French government debt into new franc....
    Feb 09 Tags: Array
  • BFCSA: UK Bank fraud victims - Banks pick and choose which victims to compensate via FOS

    Posted by Denise - 0 Comments
    Sound familiar In Australia?  Doesn’t take much to know why our banks now all have internal customer advocates to control what suits them to investigate internally and what suits them to be investigated by the FOS!   Hope for bank fraud victims: 'We were robbed of £47,000 – but the ombudsman took our side' 3 September 2016   In what could be a breakthrough ruling for victims of banking fraud, the financial ombudsman is to order a high street bank to repay an elderly couple who lost tens of thousands of pounds in a conveyancing scam. The ombudsman, which settles disputes between customers and financial services firms, will tell Lloyds Bank to repay £47,508 plus interest to Donald Kelly, a retired professor, and his wife, Patricia. Its decision was based on what Lloyds knew about the fraudsters. Banks are supposed to check the credentials of all customers when they open an...
    Dec 05 Tags: Array
  • BFCSA: Complete list of Wall Street CEOs prosecuted for their role in the financial crisis

    Posted by Denise - 0 Comments
    Bad business decisions are not a criminal offence but selling stolen goods off the back of a truck is...i.e. the real crime is securitisation...   This is a complete list of Wall Street CEOs prosecuted for their role in the financial crisis   By Neil Irwin Wonkblog September 12, 2013   Five years after Lehman fell, taking the global economy along with it, a roll call of Wall Street CEOs serving time for their role in the crisis looks something like this: Thanks, Dangerz0ne.   So, yeah. Zero Wall Street CEOs are in jail. But we did promise you a list:   1. No one. 2. LOL. 3. Wall Street's lawyers are amazing. 4. Etc. Etc. It's not that federal government tried to prosecute a bunch of them but lost the cases. There were no serious efforts at criminal prosecutions at all. Which isn't to say nobody is in jail....
    Nov 22 Tags: Array
  • BFCSA: Standards and Poor admit: pursuit of profits to bias its ratings. People Risk ignored

    Posted by Denise - 0 Comments
    Does the S&P Settlement change EVERYTHING? 16 February 2015 The S& P saga rumbles on. Having been hammered by the US Securities and Exchange Commission (SEC) in January [1], S&P has received a knock-out blow, and a $1.375 billion fine, from the US Department of Justice and 20 State governments [2]. And in what might the first of many private actions, S&P also reached a separate $125 million settlement with the huge pension fund California Public Employees’ Retirement System (CALPERS) [3]. What has received little publicity, however, are the implications of the S&P settlement with regard to Corporate Governance, in general, and Codes of Conduct in particular. In justifying the huge fine, the Justice Department said that “as part of the resolution, S&P admitted facts demonstrating that it misrepresented itself to investors and the public, allowing the pursuit of profits to bias its ratings”. In the many fines against banks,...
    Oct 31 Tags: Array
  • BFCSA: Wells Fargo CEO resigns amid "a “criminal enterprise” while dodging any accountability.

    Posted by organza - 0 Comments
    Wells Fargo CEO resigns, bank president succeeds   Published time: 12 Oct, 2016 21:59 Edited time: 12 Oct, 2016 22:06   Chairman and CEO of Wells Fargo & Co. John Stumpf has retired under pressure amid a scandal involving fraudulent sales tactics. Some two million accounts were created without customers’ permission. President and COO Timothy J. Sloan will replace him.   Stumpf stepped down from both of his leadership posts Wednesday, the Wall Street Journal reported, citing a person close to the situation.   Wells Fargo, which until recently had been the most valuable big bank in the US for years, settled a lawsuit with regulators and a city official last month for $185 million.   To meet sales quotas, the bank created accounts for unwitting customers, some of whom paid fines and fees on them. It is estimated that millions of customers were impacted. More than 5,000 Wells...
    Oct 13 Tags: Array
  • Show all entries from BANKSTERS

Recent posts from this category

  • BFCSA: Medcraft will move to the IMF Committee - Fintech disruption "will lead to the break-up of the existing model of banking."

    Posted by Denise - 0 Comments
    Banks may have to sell rivals' products Australian Financial Review Apr 23 2017 11:00 PM James Eyers   Banks could be forced to sell financial products manufactured by competitors under new powers to be given to the corporate regulator. Australian Securities and Investments Commission chairman Greg Medcraft said the move could break down the economics of cross-selling and force banks to sell their wealth operations. Foreshadowing the end of the vertically-integrated banking model, Mr Medcraft said new laws will give ASIC a mandate to police competition while "product intervention" powers could be used to ensure banks only sell products that are in the best interests of their customers – which might not necessarily be their own. Mr Medcraft said the regulator could use its new powers to limit the ability of banks to "cross sell" customers additional products manufactured by another part of the bank, a common tactic that boosts bank...
    Apr 24 Tags: Array
  • BFCSA: UBS is 'calling the top' of the property boom suggesting a "correction." More like a crash.

    Posted by Denise - 0 Comments
    UBS is 'calling the top' of the property boom Australian Financial Review Apr 23 2017 11:00 PM Matthew Cranston   The booming housing market could finally be about to turn as auction clearance rates fell back over the weekend and analysts from investment bank UBS "calling the top". Clearance rates in the biggest housing markets of Sydney and Melbourne fell back into the mid-70 per cent range over the weekend – Sydney saw its lowest clearance rate for the year – after weeks of results above 80 per cent. While the weekend clearance results and number of listings were much softer compared to previous weeks due to school holidays, Easter and ANZAC day, some properties recorded results $350,000 to $900,000 over their reserve. With heightened concerns from the Reserve Bank of Australia and retail banks steadily increasing lending rates – the Commonwealth Bank lifted again on Friday – some are now...
    Apr 23 Tags: Array
  • BFCSA: BFCSA has been Investigating the BANK Battlefield 15 Years. Mortgage Stress ready to Implode.

    Posted by Denise - 0 Comments
    BFCSA - ON THE BANK BATTLEFIELD FOR 15 YEARS.   Mortgage Stress will have an ugly trickle down effect on the economy when only another creep of 0.05% bank rate rise will cripple so many families, entrapped into LOW DOC INTEREST ONLY SUB PRIME MORTGAGE LOANS.   Trust and Confidence in Australian Banks has been trashed by Major Bank CEO's. Depression likely, whilst we as a Nation. prepare to clean up the mess. The Royal Commission into Banking Scandals is a must have. We cannot move forward as a Nation whilst Al Capone and his cronies are in charge of the neighbourhood. Mortgage Stress will have an ugly trickle down effect on the economy when only another creep of 0.05% bank rate rise will cripple so many families. ABC speaking of this looming bloodbath this morning. The looming Mortgage SUB PRIME Crash is Australia's massive story of greedy bankers, toxic...
    Apr 23 Tags: Array
  • BFCSA: ASIC, APRA cosy with Bankers = No Protection for Consumer Interests = Corrupted Regulators = Bank Scandals

    Posted by Denise - 0 Comments
    Sweating on every word – how ASIC massaged the banking message Adele Ferguson The executive was part of a process that saw ASIC taking weeks to draft press releases then submitting them for vetting to the very organisations they are supposed to be policing. It sounds like something out of a Monty Python or Yes Minister skit but sadly it is not. ASIC documents released in response to a freedom of information request made by News Limited two years ago show that it was commonplace until 2015 for ASIC to send draft press releases to the banks for feedback before issuing them to the media and the public. In some cases ASIC acted like an extension of the banks' PR team. By doing this it left itself open to being bullied into submission. Email correspondence between various ASIC staff reveals that sometimes the sugar-coating was self imposed, with some ASIC staff wanting to...
    Apr 22 Tags: Array
  • BFCSA: Bank Engineered Sedgewick Report a SHAM: NO Consumers consulted. No Toxic Approvals mentioned

    Posted by Denise - 0 Comments
    Tikki Fullarton now with Sky News...7 min interview with Sedgewick within link....AS USUAL with Banker Controlled Crap and misinformation,  it infers the fault lies with brokers!  Last week Banks were blaming Borrowers!!! There is NO TRUST....its been trashed by the Bankers. Banks attack the Sellers.  Banks are the Crooks in ROBO approved lending scandal.  Medcraft has admitted the FRAUD is in the APPROVAL.   Desperate Banks to ditch sales incentives to ‘restore trust’ 20 April 2017 Frank Chung Bank sales bonuses to go after review   THE toxic sales culture in Australian banks that sees customers saddled with inappropriate financial products may finally be coming to an end. All four big banks have committed to winding back the “deep-seated” culture of product-based incentive payments after an independent review into the practice handed down its final report on Wednesday. Stephen Sedgwick AO, the former Public Service Commissioner, was appointed by the...
    Apr 22 Tags: Array
  • Show all entries from ROYAL COMMISSION URGENT

Recent posts from this category

  • BFCSA: A little laugh for all whistleblowers

    Posted by doyla66 - 0 Comments
    YES FOLKS  Its illegal to expose the things that public servants and their puppet masters have been illegally engaging in.  If you are a public servant whistleblower and you try and expose your Mindless Masters for corruption and illegal activity, you will be the one hanged...................Should we bring back the STOCKS in Martin Place?  No not the ASX stocks..........................old fashioned naming and shaming in public square!...
    Dec 14 Tags: Array
  • BFCSA: Cartoon - Suspend Bank Licenses

    Posted by Denise - 4 Comments
    Suspend Bank Licenses
    If the Australian public's demands for a Royal Commission into the Australian banking sector are going to be ignored, the power to demand the truth will be felt at the coming election.   As the old saying goes, give them enough rope.... ...
    Mar 11 Tags: Array
  • BFCSA: Homeless People or Peopleless Homes?

    Posted by Denise - 3 Comments
    Is this really what we want to see across Australia? Royal Commission into the Australian Banking sector, with broad terms of reference!  
    Mar 08 Tags: Array
  • BFCSA: Cartoon #1

    Posted by Denise - 1 Comment
    3 Wise Monkeys
    We now have a resident cartoonist and will be sharing cartoons with you on a regular basis.  We all need a good LAF from time to time. "3 Wise Monkey" ...
    Mar 07 Tags: Array
  • Show all entries from PROPERTY MARKETS

Recent posts from this category

  • BFCSA; Brokers cry fowl after being caught out by PETTY CASH scammer.

    Posted by doyla66 - 5 Comments
    Dear members For once the shoe is on the other foot, in the online magazine 'The Advisor" ( just google it) brokers and advisors are whinging and bleating poor me after being caught out by a former financial industry person turned scammer. When I first started reading the article I assumed it must of  been large sums of money but no it sums of a thousand dollars or less. These poor souls are calling on everyone from ASIC to the police to act to bring this known fraudster to account, they are victims of fraud and want the courts to act. Well, well welcome to our world and we aren't talking little piddling amounts of less than a thousand dollars, we're talking in excess of a million dollars in some cases. The irony of this story is a lot of these people are the very people we trusted and yet they...
    Sep 27 Tags: Array
  • Show all entries from BROKERS & PLANNERS