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What BFCSA Does...
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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BFCSA: ABN AMRO NZ and 2009 we need vigilance...............
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http://www.nbr.co.nz/article/abn-amro-find-out-tonight-if-it-s-bad-bank-63272
ABN Amro to find out tonight if it’s in the 'bad bank'
Sarah McDonald | Thursday February 26, 2009
Investment bank ABN Amro and New Zealand’s biggest retail investment advisory network ABN Amro Craigs could soon be ringfenced into a “bad bank,” put up for sale and forced to cut jobs. Royal Bank of Scotland, which owns half of ABN Amro Craigs and all of ABN Amro in New Zealand, is expected to announce a radical restructure tonight (NZ time) that could result in the loss of 20,000 jobs worldwide.
New RBS chief executive Stephen Hester is mirroring a formula he employed at his previous post at Abbey National by creating a separate “bad bank” consisting of unwanted businesses and toxic assets, which is ringfenced from the rest of the RBS balance sheet. He will then look to offload all of the bad bank’s businesses, which are reported to include the Australasian and Asian operations of ABN Amro; RBS’s aircraft leasing unit; and portfolios of mortgage and lending assets by US business Charter One.
The restructure is expected to take five years and involve RBS withdrawing from about half the 60 countries in which it operates.
ABN Amro Craigs has more than 60,000 retail investor clients, and 300 staff in 17 locations around New Zealand. Its head office is in Tauranga and senior employees own half the company. ABN Amro New Zealand chief executive Simon Allen did not respond to NBR’s request for comment yesterday.
ABN Amro’s New Zealand assets are a subsidiary of ABN Amro Australia, so both sides of the Tasman will probably share the same fate. ........read more http://www.nbr.co.nz/article/abn-amro-find-out-tonight-if-it-s-bad-bank-63272
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