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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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APRA knew in 2003 report Howard Govt gave GREEN LIGHT to Bankers re SUB PRIME Lending

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If you are a paid up member of BFCSA are three snippets of what you receive as a newsletter. You cannot afford to miss out:
APRA knew in 2003 report Howard Govt gave GREEN LIGHT to Bankers re SUB PRIME Lending
Our Next Battle will be compensation cases and class actions. This can only happen when Labor holds #ALPBankRCmk2 Documents lawyers need are to be discovered in the dungeons of ASIC and APRA. Neoliberalism follower John Howard – turned consumer protection into a watered down older version of BUYER BEWARE and why Major Banks were given the GREEN LIGHT for Low Docs which are sold at the rate of 80% of their Loan Books since 1999. APRA wrote a tell-all 9 page document in 2003 explaining the plan, put together by Howard, Costello and Turnbull (Mr Goldman Sachs) between 1999 – 2000 and explained in a full 365 page report in 2003. My researcher Gladys and I have been searching for all associated records of what took place during the Howard years.
“APRA concerns re Low Docs, that since the borrower does not provide income details and lenders do not verify incomes, these loans DO NOT COMPLY with the AGN.” Banks are relying on Broker Valuations. Ie breaches everywhere against prudential standards: APS 231 – outsourcing. “APRA considers that the bank itself MUST BE RESPONSIBLE for deciding the criteria to be used in making the decision to lend.”
THE APRA REPORT 2003 contained these gems (just for the doubters): “in the past two years, lenders have begun to offer loans written with considerably less documentation required and verification of income and serviceability....referred to as LOW DOCS.  Banks offering loans via mortgage originators, brokers and third party channels. Banks (ADI’s) are accepting the assessments done by those referring the borrowers and not verifying the borrower information...placing greater attention on the security underlying the loan rather than the ABILITY of the borrower to repay the loan.  There are higher Loan to Value ratio’s.........high default rate risks.  Ratings agencies have factored this in to their assessments of residential mortgage backed securities which contain LOW DOC loans in the securitised portfolio.” APRA expressed concern where the borrowers’ servicing ability is not verified and the associated risks for the economy.  “Borrowers are only required to self-declare their income levels."
THE MORAL HAZARD: Buyer Beware or Consumer Protection. DO WE THE PEOPLE allow banks to continue on “as normal thieves in suits” and permit asset stripping run by criminal Cartels OR do we clean up the banking industry and break up the Banking Cartel in Australia?? BAD BANKING will be a massive election issue as Labor recognised and acted immediately in April 2016. The male dominated Liberals realised that public exposure of bankers’ criminal activities would mean the bank engineered property bubble will burst if the Government ordered banks to stop selling LOW DOCS and stop asset-stripping from ARIPs. Bank Robbers are no longer those who hold up a bank for a bag of cash: they are the CEO’s of the Major Banks and their political cronies.
So what went wrong at APRA???
#DeniseBraileyBFCSA Banking & Finance Consumers Support Association
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