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BFCSA
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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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BFCSA: At last count... 403 Submissions to the Senate Inquiry about ASIC's Performance... and counting...

Posted by on in ROYAL COMMISSION URGENT
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There are now 403 submissions with more still to be uploaded!

Why not make yourself a cuppa, and then settle down to read some of these Submissions.

To read submissions click this link

http://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/ASIC/Submissions

AND in case you are wondering, YES, there is still time for you to submit your one page letter outlining your own experiences with ASIC (FOS and COSL) 

Send in Your Submission via Email:  This email address is being protected from spambots. You need JavaScript enabled to view it.">This email address is being protected from spambots. You need JavaScript enabled to view it.

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Comments

  • doyla66
    doyla66 Monday, 13 January 2014

    Corruption, criminal conduct, cover ups and deaths in Finance Sector should automatically mean Royal Commission

    403 and still counting is a great result for any Australian Senate Inquiry.
    For each of those submissions there is the wide circle of interest behind those who wrote in.
    That amounts to many thousands of Australians.
    Plus thousands of overseas investors, "borrowers"/credit clients and followers as well.
    Plus the potential Australian and overseas investors, "borrowers" and followers too.
    Plus the Australian and overseas media. And their readers.
    That's already millions of interested parties and stakeholders in the ASIC Inquiry.
    What else does the Government require to call the Royal Commission into Banking and Finance today?

  • doyla66
    doyla66 Monday, 13 January 2014

    Confessions from the google bar!

    Asic Chairman Greg Medcraft hits out at criticism………..an Australian looking out for Australians? Looks like he might be a bit rattled to me - wonder how he might feel when it’s really time to shed skin! Type in first 7 words and have the smelling salts ready for when you watch the u-tube!

  • doyla66
    doyla66 Monday, 13 January 2014

    What is it about ASIC that they seem to be tackling and trotting out every form of crime BUT Bank fraud? Contrarian?
    If Greg had to make choice between Australia's interests and IOSCO's interests, which would he put first?
    Surely there is a high risk of conflict of interest, especially as:
    a. GM may not be clear about the changes in "Australia's interests" post election
    b. Australia is moving away from global conformity and previous close alliances under the Coalition
    c. Given half a chance Australia could dump much of the UN, IMF, Basel and other aspects of Labor financial policy
    ... not that conflict of interest really matters, so long as it's "disclosed" :)

    On that note ... I can foresee future mortgage contracts carrying the warning:
    This is an ASIC consumer warning in compliance with our Disclosure Policy : This contract may contain small traces of loan fraud.

  • doyla66
    doyla66 Monday, 13 January 2014

    Most likely they have made another rule change and given casinos an exemption and now more concerned with their new toy but if only they knew who might be onto them! Maybe toxic GM mortgages had something in backwashing we all missed! To know what I mean and to give all who might be having a low day a good laugh re somebody else who needs to be parachuted into ASIC land order this from the google bar for a good belly laugh.......tim elliott smh dec 10 2013

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