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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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BFCSA: APRA's Wayne Byres downplays impact of Royal Commission on credit

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APRA's Wayne Byres downplays impact of Royal Commission on credit

Australian Financial Review May 30 2018 6:43 PM

Jacob Greber


Australia's leading bank regulator has downplayed suggestions the royal commission will crimp credit growth, saying that while many financial institutions will need to restore customer trust the system overall remains stable and sound.

Speaking to Senate estimates, APRA chairman Wayne Byres described revelations from the royal commission as "disturbing" and said they go to the heart of whether financial institutions "treat their customers fairly".

"However, while institutions have a great deal of work to do to restore trust, I want to emphasise that Australians can be reassured that the industry is financially sound, and that the financial system is stable," he told the committee.

"That reflects considerable policy reform and hands-on supervision, over a long period of time, designed to build strength and resilience. "

The remarks counter warnings from Treasury Secretary John Fraser, Reserve Bank of Australia governor Philip Lowe and ratings agency Moody's that fallout from the commission could result in a sharp regulatory tightening of the financial system. That could lead to a slowing in the availability of credit and crimp economic growth.

Mr Byres signalled that APRA is in no rush to remove constraints on lending that are being blamed by some market experts for falling prices in Sydney and Melbourne's property market.

Regulators moved to slow lending in two waves of so-called macroprudential policy measures, in 2015 and last year. APRA last month announced that it would remove the 10 per cent investor growth speed limit at lenders who "could provide a range of assurances as to the quality" of their standards into the future.

Mr Byres said that while it was true that APRA was trying to operate in a "counter-cyclical" manner, the priority has been to allow the market to adjust "in an orderly fashion".

"The flow of credit to housing overall has been pretty stable," he told the hearing.

APRA has been working to raise bank lending standards, and would continue to do so, he indicated.

"Although there remains more to do before we are ready to significantly dial back our supervisory intensity, there has been a lift in industry lending practices."

Challenged by Senator Jenny McAllister on whether APRA had done enough to the buildup of risks, Mr Byres said: "We've done what we can with the resources we have and we've had a good impact."

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