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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: Banking royal commission: executives off the hook, say unions

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Banking royal commission: executives off the hook, say unions

The Australian 12:00am February 5, 2019

Elias Visontay

 

Unions leaders have lashed out at the royal commission report, saying it lets bank executives off the hook.

ACTU president Michele O’Neil said: “The report is wholly inadequate and fails to get to the core of the issues in the banking sector and the insatiable greed of the banks, and lets those responsible — the bank executives — off the hook.”

In a video posted to Twitter, the ACTU said the report failed to deliver justice because it lacked “direct referral of any criminal prosecution or civil prosecutions”.

The union also said the report was a failure for not recommending to “kick banks out of super”, and “does nothing to change the sales-driven culture in banks”.

“If a working person stole from their employer, the police would be called and they’d lose their job. But if a bank executive oversees large-scale theft of customers, it seems they’re let off the hook,” the ACTU tweeted.

“Working people cried out for this Banking royal commission. The Coalition government has failed them by providing insufficient time & resources to fully investigate the extent of wrongdoing by senior finance executives.”

Union-backed industry super funds accused the government of attacking them after super was included in the banking royal commission.

The union movement was vocal during the royal commission, criticising the commission for not moving to ensure banks could not pursue legal action against whistleblowers.

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