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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From Facebook/BFCSA John MacFarlane will be one of many former Banking Chiefs and insiders to banks who are disgusted at today's corrupt banking system. Insider Bank staffer has told us...:"Bank chief and execs incredibly nervous at work prior to election, terrified that Labor would win. Colleagues and I voted Labor for first time. We were sold the same loans. Shocking what is going on. Yes needs Royal Commission. We are prevented from speaking out."     https://www.theguardian.com/australia-news/2016/aug/10/labor-credit-card-rates-banking-commbank-profit-statement Former Reserve Bank board member John Edwards joined the chorus of critical voices last week in calling for some type of inquiry into the banks, saying their relative power had increased significantly in recent years and it had to be reckoned with. “Their authority in [funds management] is becoming vastly bigger than it was, even a decade ago,” Edwards said. “I think that’s where we need to get a better idea of what the...
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Comment by arree Saturday, 22 March 2014 · OK, who else out there paid over inflated prices on their blocks of land back in the day and are now trapped in a jumbo loan, and now 5 or so years later are facing the prospect of being financially crippled by your bank. Banks threw money at us based on those inflated valuations, (in house assessors would tweak these valuations even higher to ensure the deal would fit THEIR LVR ratios) with no regard to our ability to repay these loans.. LOC, buffer moneys, refinancing all done to skew the statistics... no systemic issues "they say" ... everything is fine........ all lies, lies, lies. ASIC knows it, APRA knows it, the AFP knows it, and now thanks to BFCSA we know it too!Hard working Aussies have been conned out of their life's hard work. This mortgage scam is a huge scandal and the...
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  • doyla66
    doyla66 says #
    Banks have also done an almighty con job on the pollies and they are still struggling to understand how they have controlled this
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