BFCSA Blog

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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Capturing politics was fairly easy: Too Big To Fail.  Watch the big banks announce their profits again and yet they failed to pass on successive interest rate cuts to their customers.  Instead Banks have been gouging customers whilst paying reasonable dividends to shareholders BUT they have been paying themselves and their very own Broker Channel Agencies and Agents and themselves spectacular BONUSES under the guise of being PRUDENT BANKERS. By loading up the Nation (any nation) with TOXIC LOANS, they would then be in control of the political landscape.  It was easy to convince Governments:   "Prick our Bubble and we will burst yours!" Nice one chaps, but we are on to you!  It goes like this:-   STITCH UP ONE: Bank Lawyer to Banker: "we can draw up Loan Applications that include a statutory declaration signed by borrowers to state:   I the borrower Muggins Me do hereby understand I have read and fully agree with...
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  • doyla66
    doyla66 says #
    ACCC tests and recalls faulty products for the protection of consumers. Some of these products are from multinational companies.
  • doyla66
    doyla66 says #
    By loading up the Nation (any nation) with TOXIC LOANS, they would then be in control of the political landscape. It was easy to
  • doyla66
    doyla66 says #
    When petrol companies get done for price manipulation, under what Act/legislation is that? How does that differ from the collusion
  • doyla66
    doyla66 says #
    And that ladies and gentlemen is exactly how it's done. The heartless vermin were counting on never being exposed. With the help o
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Money can buy some pretty nice things.  Yet, in the wrong hands Money can be the root of all evil...................Australia is currently in the grip of a highly organised Bafia money market.  Remember the devastating control by the Mafia in so many countries?   Try the BAFIA....the Banksters version of control by theft and money..................our Banks have become a safe harbour for white collar criminals.  We have the proof and our Members  documents do not lie. We need a forum to air those documents and grievances. The Banking sector is riddled with fraud and out of control.  They have become the bullies in the playground of the rich and famous.  Even Clive Palmer needs a Banker. No wonder the long suffering victims of Banksters are confused as to why civil and criminal JUSTICE is being DENIED to ordinary hard-working Mums and Dads and courts only respond to bank demands to take possession of...
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  • doyla66
    doyla66 says #
    Thankyou for explaining this, Denise. I always thought the Law was the Law, and while sometimes different judges came up with diff
  • doyla66
    doyla66 says #
    http://www.sunshinecoastdaily.com.au/news/hidden-loan-trouble-looms/1855224/ And this one too
  • doyla66
    doyla66 says #
    http://www.sunshinecoastdaily.com.au/news/asic-found-no-systemic-banking-misconduct-lawyer/1855223/ Just read the article up on t
  • doyla66
    doyla66 says #
    Key Note Speaker: Peter Costello, the Federal Treasurer....."Speakers told the planners: "you have to find new markets.....we sugg
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Matt Taibbi does it gain in ROLLING STONE and you need to read the entire 5 pages and the comments.   By Matt Taibbi April 25, 2013 1:00 PM ET Conspiracy theorists of the world, believers in the hidden hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you an apology. You were right. The players may be a little different, but your basic premise is correct: The world is a rigged game. We found this out in recent months, when a series of related corruption stories spilled out of the financial sector, suggesting the world's largest banks may be fixing the prices of, well, just about everything. You may have heard of the Libor scandal, in which at least three – and perhaps as many as 16 – of the name-brand too-big-to-fail banks have been manipulating global interest rates, in the process messing around with the prices...
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  • doyla66
    doyla66 says #
    How can courts dismiss cases over this "race fixing" behaviour, blaming the victims, turning away from manipulative behaviour that
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This from Rachel and thank you for your contribution to our efforts to uncover this global Crime of the Century: From our American Cousins: The regulatory Agencies will tell you:  'We don't handle that."  THEN WHO DOES?  They are sending you into the unknown world of nowhere.  This is the format of these agencies.  Don;t even try to file  a complaint with the Attorney Generals Office.  They have these new young guys working for them with these complaints coming out of Illinois.  Its all part of the BIG TIME FRAUD AND MISCONDUCT.  When you have missed and credit control whom is part of the foreclosure fraud and paper creation involved together , you have complete fraud.  Credit Control is also part of the Attorney Generals Offices , directly involved with all the politicians including the Mayor. They have complete control to harass and stalk a homeowner if they should wish . Inflate your utility bills, play a...
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  • doyla66
    doyla66 says #
    Scary stuff. Thanks Rachel. Better to be forewarned. Everyone can see that the current banking and financial system is not work
  • doyla66
    doyla66 says #
    Prime Minister has head buried in the sand like an ostrich pretending not to know anything about it, the same as all the others.
  • Denise
    Denise says #
    Lending is going to get much much worse as the EVIL BUFFER LOAN REFINANCES dry up. Banksters gave pensioners enough funds to "aff
  • doyla66
    doyla66 says #
    Disturbingly, borrowers expecting difficulties meeting repayments over next 12mths has SHOT UP from 18% to 23% in the past 3months
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Posted by on in Corruption Exposed
The Australian Securities and Investment Commission had been watching this crowd and making excuses for years.  ASIC will tell "we are looking into the matter........"   For seven years?  Did they demand audits be carried out?  Did they check out the Lawyers, the client files, the auditors as to process? Well had they done so they could have acted a lot sooner and less people would be suffering as if Mr and Mrs Avergae Citizen were merely "collaterised damage."  NO regulatoiry oversight, no thought to the future financial weel being of vulnerable retirees.  NO enforcement of law, found the Chapter Seven of Corporations Law.  ASIC was responsible for this mess. Pensioenrs were being spruiked into taking out dodgy loans and then Retiree monies were used to buy dud blocks of land in remote areas and all interest WAS CAPITALISED FOR TWO YEARS.  That means NO INCOME STREAM.  Did ASIC not see this coming?  Are they PONZI blind?...
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  • doyla66
    doyla66 says #
    Watch out which bank will give Medcraft a cushy job post ASIC!
  • doyla66
    doyla66 says #
    ACCC gives green light to CommBank to buy all of John Symond's Aussie Home Loans business: Aussie said the agreement was always fo
  • doyla66
    doyla66 says #
    ASIC should be prosecuted.What the hell are they being paid for ??? Don't rush him Denise, he's still looking into it and trying t
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I don't think your logic is very sound Haddock.  I'm no financial genius but my first thoughts were that this would cause a run on other financial institutions in vulnerable European countries and blow me down here it is on the front page of today's Australian ......"As analysts warned that Cyprus's proposed levy on bank accounts could lead to bank runs in fragile eurozone economies such as Greece and Spain ........" ?  ...
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  • doyla66
    doyla66 says #
    I didn't say it was a good idea from a stability perspective - blind freddy could tell you that - my point was that if they were f
  • doyla66
    doyla66 says #
    "Rejection of Deposit Tax Scuttles Deal on Bailout for Cyprus" is a headline in the NY Times this morning. There's also 2 pgs of c
  • doyla66
    doyla66 says #
    Ordinary people do extraordinary things to protect their possessions and family,even if it is to the detriment of others.Just for
  • doyla66
    doyla66 says #
    Cats like to eat Haddock for Breakfast, don't they?
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by Mackenzie McCarty | 04 Mar 2013  Australian Broker News.    Macrobusiness, Leith Van Onselen better give me a call - he maybe an expert in his field but not an expert in criminology.  Leith has been seriously misled on information and probably by ASIC....their tired and worn out usual response.  Banks screwed everyone Leith: Borrowers, Brokers, their own staff and also Shareholders. Former RBA governor Bernie Fraser has lambasted the major banks, saying they're putting shareholder interests above those of their customers. But one economist says the real story is not quite so simple. In a Fairfax interview published this morning, Fraser says that despite lenders claiming they’re striking the right balance when it comes to serving investors, savers and borrowers, when it comes to mortgage-holders, the majors are putting profits first. ''It's a question of the relative priority they attach to their shareholders and their customers. That's been the case right through the recent...
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  • doyla66
    doyla66 says #
    Leith Van Onselen, If the Major banks are not solely to blame then who is? don't tell me it's the brokers!! It is the bank's cleve
  • doyla66
    doyla66 says #
    Thank you Bernie Fraser for having the courage to speak out about the banks greed. Banks are screwing everyone. They are even pre
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"COURAGE WITHOUT MATESHIP" by Kim Sawyer '..And we need a new attitude to mateship. Real mates don’t sell out future generations.''... Mateship is a defining characteristic in Australia. Mateship is a pseudonym for networking and, in Australia, tightly controlled networks dominate. Mateship, not merit, is often the main prerequisite for employment, for promotion, for contracting and for acceptability. For a whistleblower, mateship becomes an anathema. By blowing the whistle, the whistleblower ceases to be a mate.' This extract came from a Paper presented at the National Conference of Whistleblowers Australia. November 28, 2004. Melbourne   Comment by ARREE - AND 8 years later.. just look at where we are today. PLEASE If you know something.. do speak up today.. don't sell out future generations! ...
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  • doyla66
    doyla66 says #
    If we don't clean up this mess now, it will still be here for our future generations only much bigger, more horrific and uncontrol
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Big four banks
Australian banks are making a profit of almost $80,000 profit on each new mortgage customer by:Stephen McMahon  From:News Limited Network  February 25, 2013 11:00pm Increase Text Size Decrease Text Size Big Four banks making more profit with mortgages. Big Four banks making more profit with mortgages. BANKS are making a profit of almost $80,000 on each new mortgage customer over the lifetime of the loan - the highest level in almost a decade - making out-of-cycle reductions in lending rates "inevitable" as competition grows. Experts said the surge in bank profit levels with the Big Four pocketing more than $25 billion last year has been driven in recent months by a huge lift in the profit margin of millions of Australian's home loans.And UBS analyst Jonathan Mott yesterday warned of a political backlash if the majors didn't cut rates outside of Reserve Bank movements.There is a real risk politicians will step-in...
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  • doyla66
    doyla66 says #
    Good on you for making the complaint Kaz. So we know there are a few honest people in Parliament. I think that all the decent, eth
  • doyla66
    doyla66 says #
    Whilst every other bank has been cutting interest rates, CONNBANK have INCREASED our rate, forcing us to pay even more when we are
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Better Living Through Chemistry Friday, 8 February 2013Baltimore, Maryland – Melbourne, AustraliaBy Dan Denning The scandal of economic doping Why investors are deluded if they think happy days are here again EXTRACTS From Dan Denning in St Kilda:"--My goodness. You'd have thought the world was coming to an end with all the media focus on drugs in sports. But the Australian economy has been doped up for years by credit peddlers, criminal bankers and unscrupulous politicians. There hasn't been a single inquiry to this epic theft, or its effect on society and values. Until today!" "--But we're not really here to defend using human growth hormones. We're here to ask a question: if people have a natural sense that using drugs is unfair in sport, why aren't they equally up in arms about the effects of performance enhancing credit in the economy? We use monetary drugs all the time to make...
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"We are a moving company, not a storage company". A fresh glimpse into Wall Street's mortgage machine. In a deposition, a bank employee said revealing loan defects would undermine the lucrative business, and that "the bank would suffer". NYTreport: Emails document JPMorgan Chase coverup of bad loans: JPM routinely dismissed critical assessments or altered them. Motto,"Process loans, not paperwork".  Employees were tasked with "purging" all of the older reports showing flaws, while executives altered the assessments so that a smaller number of loans were considered "defective". In a 2007 e-mail, titled "Banking overrides", a JPM credit manager asks a banker: "How do you want to handle these loans?" Answer: "whitewash the findings".  To sanitize bad assessments, certain JPM employees, including the bankers who "assembled" the mortgages and 4000 managers, had the power to "ignore or veto bad reviews" . The latest documents could provide a window into a $200 billion case that looms over the entire (US) industry.  As they raced to produce...
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  • doyla66
    doyla66 says #
    These corrupt banksters must be jailed for their crimes. The banksters criminal extortion racket steals far more from the law abid
  • doyla66
    doyla66 says #
    Australian banks too, strongly deny ANY wrongdoing. Our "big four" MAJOR SHAREHOLDERS are these AMERICAN banks! You can't tell me
  • doyla66
    doyla66 says #
    BankAmerica,Citi,Wells Fargo,JPM formed Mortgage Electronic Registry Systems or MERS--its motto "Process loans, not paperwork"(est
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Several scams over the years have been exposed via a bundle of documents in a BROWN PAPER ENVELOPE. No problems.  Confidentiality assured.  If you are seeing things in your workplace that is utterly distasteful then relieve your conscience, do your bit and help save  a pensioner's home.  They will love you from afar.  BFCSA now has all the pieces of the jigsaw.  The more insider docs that land on my desk - sanitized or otherwise will be read and understood, and respected in terms of source. I have never betrayed a Whistleblower - never.  This scandal is coming from the top down.  Have a look at the greedy bonuses at the top and be forgiven for wanting to vomit! The murky truth has to escape by the sheer volume of the racketeering that will make the US and European scandals look like Piggy Bank Raid.  Per population, our Australian Mortgage Scandal is 12 times worse.  Wholesale looting has taken place over 14 years....
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  • doyla66
    doyla66 says #
    You are spot on Arree,Some days I wish I could do the same,unfortunately when you are approaching 60,you have to hang onto your jo
  • doyla66
    doyla66 says #
    How interesting it is to read about the long term strategic plans by Banksters and co. to transform people from being problem solv
  • doyla66
    doyla66 says #
    Hi Wayne, All decent,honest bank employees eg:lenders, have been performance managed out of the business,sacked or left of their o
  • doyla66
    doyla66 says #
    All decent, honest bank employees should quietly gather all the evidence they can of their banks un-ethical & illegal loan practi
  • doyla66
    doyla66 says #
    "Dishonourable debt should not be honoured." "The jubilee was a feature of ancient Hebrew law. Every 50 years debts were forgiven
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Posted by on in Corruption Exposed
Govt makes whistleblower laws a priority 4:40pm January 31, 2013 ninensmnews Commonwealth bureaucrats who reveal wrongdoing in the public service would be protected under new laws the government hopes to pass by the end of March. The whistleblower laws are a priority in Labor's list of proposed legislation for parliament to consider in the autumn sittings, which start next Tuesday. Independent MP Andrew Wilkie introduced to parliament in October his own legislation to protect whistleblowers, saying it was time the protections were established. Special Minister of State Gary Gray responded by saying the government was developing its own framework to ensure whistleblower disclosures were appropriately investigated and acted upon.   COMMENT BY ARREE - What about the Banking whistleblowers?...
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  • doyla66
    doyla66 says #
    There appears to be "degrees of perjury" or "shades of it". In my book, it is either perjury or it is not. If you swear on an affa
  • doyla66
    doyla66 says #
    "It might be worth the BFCSA making a submission to Senator Gray before any laws are made as to what protection would be appropria
  • doyla66
    doyla66 says #
    In SA there has been whistleblowers protection legislation for almost 20 years. Whether it has helped protect whistleblowers is an
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I remembered a funny story this morning and realised I was a frog:   So, how do you boil a frog?  Simple... If you throw the frog into boiling water it will leap out, but if you put it into a pot of nice cool water and slowly let it come the boil, it will begin to feel a little warm, then a little uncomfortable, but not enough to jump out, even after it gets hotter and hotter, until it is too late and of course it gets cooked! (sorry animal lovers! NO frogs were hurt in the telling of this story :-) All the recent talk of our bankers' parents money-laundering (HSBC and JP Morgan) reminded me of another very famous group of business people who talk big, act big and tough, threaten people with harm, and everyone (the people, the law enforcement agencies and the public officials) obviously know...
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  • doyla66
    doyla66 says #
    Well said STM. The Australian Banks are using LEGALISED EXTORTION on the Australian people. It's being covered up by the Governmen
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It is actually stunning, the silence from all concerned, since these issues were brought to the front of the table by Denise in August.   Banks 'negligent and reckless' with low-doc loans: Denise Brailey in Senate testimony By Larry Schlesinger Monday, 20 August 2012 http://www.propertyobserver.com.au/mortgages/banks-negligent-and-reckless-with-low-doc-loans-denise-brailey-in-senate-testimony   Most of the low-doc loans banks provided to borrowers would have been rejected if they had made a "simple phone call to the borrowers”, banking consumer advocate Denise Brailey has testified before a Senate inquiry into behaviour of the banking sector post-GFC. But she says banks chose “in a corporate decision” not to make this phone call to ascertain the true financial circumstances of the borrower. Brailey, who runs the Banking and Consumers Finance Support Association (BCFSA), brought with her to the inquiry a “small bundle” of 4,000 “falsified loan applications", which she said includes applications to every bank in Australia. “The four majors are in there....
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  • doyla66
    doyla66 says #
    Good one STM. And we know some in government are in the bankers pocket.
  • doyla66
    doyla66 says #
    All of the policies, the legislation & the regulations are nothing but hot air being delivered by corrupted pollies pushing their
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Where are the country's leaders and protectors?     We know that ASIC are complicit, we know the other regulators are finding 65% of cases in favour of the banks.  We know that 100% of Low Doc and No Doc loans have been falsified after people have signed and submitted their docs. We know lawyers like Gadens are using school yard bully tactics to intimidate victims and we know that some banks are using delay tactics in processing peoples' hardship applications so they can then push through foreclosure. But we also know that the executives  of the international parent companies of Australia's banks and lenders'  are being exposed and fined millions and billions of dollars for all sorts of inappropriate and illegal activities, while other bank and lender executives (including our own!) are being paid HUGE bonuses prior to discovery. The only power is the power of the people, and that power is...
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