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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: Commonwealth Bank of Australia Like Rats up a Sewer Pipe

Posted by on in Bank Collapses
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If you happen to be a Bankster, and you invent a monstrous fraud, then flag it to all your competitors so it becomes the "norm" and the scam just happens to be a GOLD MINE in Big Fat Bonuses for all concerned: aggregators, planners, broker, lawyers and LIQS......then what happens when the fraud becomes volcanic lava flowing out onto the streets?  Ooops! 

The plebs have awoken and started to smell the fumes from the over-heated LOW DOC market.

NOW WE HAVE THE CORRECTED LAFS CAPER......................CBA STYLE!

One of our members asked THE COMMONWEALTH BANK for her LAF and sent it in to a less than helpful FOS.  The income had been fudged upwards by over $100,000....you all know this as "the usual model."   The document was definitely altered after she signed and without her knowledge or consent.  

Then a year later, because the LAF was a typed up electronic 7 page version unsigned and, with huge alterations to INCOME.     our intrepid member asked CBA:   "Will you please send me my Loan Application Form .................the specific copy the broker FAXED to the bank and the one YOU good Bankers relied upon to approve my loan.....its easy to spot as it was hand-written and has my signature.  now be good chaps and hand over."

Surprises come in small pages.  The LAF duly arrived: Version 2, and would you believe all the incorrect income figures had been altered and CORRECTED  by CBA and again this was an unsigned, electronic version - same document, same markings but just tidied up a little to remove the fraud.  So where is the hand-written, signed original copy?   Seems it just happens to have been mislaid.   Yeah Right!   CBA like to keep everything "neat."

Speaking of neat, where is Mr Narev these days?   Ah yes, perhaps busy shredding and altering offending documents?  Must be working way past midnight.  There are $57 Billion of these..........................................what is CBA's share?

So we talk to ASIC:  "What is CBA's share...........We leave that to RBA................."

So we rang RBA:  "we get our figures from APRA."

So we rang APRA: " we get our figures from our Trusted Banks"  (no-one checks obviously - no audits of client files?  Nope!) "We do not share those figures with the public." (in case they are fudged) "We hand them to Treasury." (of course you do...lesson number one in Political Science degree)

We ring Treasury: "Information you seek is a secret."  Of course it is!!!!  We are just Members of the public that own the system.

So we ring the Banks;  "Talk to the janitor....he has better ideas."  "We are all busy in the shredding department."

Bring on the Royal Commission into the Banks please, because we are about to launch our own

Does anyone check the Bankster Figures and look for systemic issues?  "Afraid not - try Russia, they use Skippy"This email address is being protected from spambots. You need JavaScript enabled to view it.

 

 

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  • doyla66
    doyla66 Saturday, 01 June 2013

    Priceless!
    "Trusted Banks" - ROFLMAO!!!
    Either APRA are very stupid or they would have no figures whatsoever and nothing to do - probably seconded to the paperwork shredding department as well.
    Australian Politicians WAKE UP!
    Royal Commission now!
    Before the rest of the evidence is shredded by these criminal Banks to evade the Law!
    Unless that's what our "trusted leaders" are actually hoping will happen .... ?

  • doyla66
    doyla66 Sunday, 02 June 2013

    Our once trusted leaders are not so trusted anymore. Aussies are waking up to Regulator's laid back don't care and very corrupt attitude.

  • doyla66
    doyla66 Sunday, 02 June 2013

    Finally after 3 years of requesting our LAF's from the Nab it came to light that the Broker never completed any. Proven fact now. But of course Nab deny this as usual. I think that is there favourite word. DENY. But the Broker managed to get his commission alright. Mr. Broker manouvered and elaborated the business plan. Mr. Nab banker probably could not believe his eyes. So simple just sign off for the loan to these suckers. Who cares that these same people only have their homes as security. Who cares that we do not verify anything with the suckers or even bother to phone them. Why worry we will take their homes in a couple of years.

  • doyla66
    doyla66 Monday, 03 June 2013

    Has there ever been 2 royal commissions running at the same time in Australia previously? If not, then we have an idea as to why an open-ended royal commission has been set up just now into the long-long-standing issue of Institutional Child Abuse. It must be to tie up resources that may otherwise be used to investigate the banking cartel. (And, we do know that there would be a significant amount of dollars involved to investigate that one). Thank goodness for the relentless pressure being applied by Denise & BFCSA. Starting our own is far better than waiting for a federal government to demonstrate any will to do it.

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