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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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BFCSA: DEVIOUS BANKERS lend money based on false info ENTERED by bank staff. Borrowers then forced to repay the "unaffordable"loan.

Posted by on in ROYAL COMMISSION URGENT
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Recent comment made by one of our readers...Roy W.

"Torch the getaway car, throw the gun in the river, shoot the witnesses, burn the house down, all these classic cases of destroying evidence have made for two hours of great viewing at the cinema. Then there is the real life situation of shred the Loan Application Form, burn the service calculator and flush the Original Customer Contract, this has made for a lifetime of fun for Bank CEO's. The only ones not enjoying this are the customers affected for a life long sentence of poverty all because our system is a failure.  

Unlike the movies where the hero always gets his man or your weekly crime drama where the crooks get caught in the hour long episode, this is taking a life time for real victims of Bank Fraud even with a mountain of evidence to thoroughly back the claims to even get a reasonable hearing.

I am left bewildered as to when crime is crime, why do we not have the full extent of the law at our disposal if a white collar criminal steals our money eg Bank by devious means lends money based on information not given by the recipient of the loan but then borrower made to repay the loan which was never affordable. The Bank continues to take the borrowers hard earned until the unaffordable loan commitments can no longer be met. The Bank then begins making demands for payment of outstanding loan and begins pressuring the borrower with threats of taking possession of the property mortgaged. Finally the family home is taken by the Bank as the equity is drained away.

Now that might seem like the normal course of action if someone is over committed of their own accord. What is wrong here is that Banks trained and sent out Brokers to find customers with training specifically designed to target people with limited incomes but who had worked hard over many years to attain an asset portfolio just built from their own thriftiness. Many of these people were self employed, pensioners, or folk that had received disability payouts for lifelong illness or injuries and no longer had mean for an income. Brokers peddled their product to the unsuspecting with a razor sharp spiel and the Banksters rubbed their hands together with glee as they knew the authorities would never suspect the Bankman it was always going to be the Broker that would be the fall guy.

But as the truth of the plot so cleverly engineered in Bankster back rooms started to waiver and cracks appeared in their cunning plan, the weapon that had been so cleverly hidden from view the LAF and the Service Calc became their own ticking time bomb. Denise Brailey disclosed this paperwork to the world of victims and presented it to many people of power as the Banksters weapon of choice but all the brains trust could not grasp her message. The plain and simple of all of this fiasco is that Banks took whatever figure of income the client was required to earn to make a loan happen and disregarded any information given to them (the legitimate information supplied by the customer) and simply replaced it with the figures they needed their system to produce to make the loan work.

Now where they went totally wrong was trying to blame the Brokers and the customers as there is a process  for checking that information is true and correct and our Banksters in their haste to get their hands on your asset forgot that the only people that can approve the loan is the Bank themselves. So blaming the Broker for fudging figures or blaming the customer for lying about their income or their ability to repay the loan is a last ditch grasp at an excuse for not following the rules. And lets face fact here the Banks made their own set of rules when they wanted self regulation, maybe they will want to set their own jail sentences when it all comes spewing out.

I doubt the regulators will be able to contain the Bankster secret for much longer they have played dumb for long enough and their long list of excuses have just about run their course. Not long to wait now for the Senate enquiry and that I believe will filter onto a Royal Commission because there are a lot of Bank CEO's and Politicians that have some very serious questions to answer. The Joe Hockey thing will turn into a circus and will turn up nothing as it will be run by Bankers for Banksters just a whole lot of back slapping and high fiving at that one. One thing is for certain the visitor dress standards will be right up at the penitentiary over the next couple of years you might even have to buy tickets to get in there will be so many famous faces."

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Guest Friday, 18 September 2020