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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: FOS & COSL biased to Banks decisions will be exposed very soon. FOS refuse to follow the lead of the courts

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Dear Vic,  This system of fraud by FOS and COSL will be exposed I can assure you. The Financial Ombudsman's decisions and that of COSL favour the banks.    We have been collectively road testing their decisions.  For 12 months FOS has been systematically bi-passing the recommendation stage and there is no longer a panel of review.  The investigators are seconded by the banks (as in the IFSA scandal."   There are two arrogant ex banker men making decisions and saying:-

"My decision is binding, take it or leave it, yes it favours the banks, but you now have the chance to go to court with no money.  Yes there is Maladministration in Lending, no we will not name the banks because most complaints involve the Major Banks who pay us (FOS) $5000 per complaint.  ASIC condone what we are doing, the banks will grab your home when we close our files and whilst the file was under investigation for two years, despite Maladministration in Lending and Fraud and Forgery, we have permission from ASIC to respond in this way." 

"Banks do not wish to lift the limits of compensation, nor do they wish to stop lending with no limitations.  Banks will continue to add fees and charges for the two year wait, despite the fact you have presented evidence of Maladmin in Lending and Fraud and Forgery on Mortgage Loan Application Forms.   Yes the new laws are not activated towards Banks so nothing we can do we are a dispute process.  It is ASIC that insist the complaints of criminal activity within the banking system allows for us to deal with them as if mere backyard disputes.  

"ASIC permits us to throw out most cases as being prior to 2007 (even though discovery of fraud was 2012). ASIC is acting unlawful but that's been happening for years to protect industry and banks.   The original EDR decision stated Brokers are Agents of the banks and then ASIC and us, decided to change that to favour the size fits all.  We ignore the law because we can."

"You will lose your home.    Deal with it!"

NEXT STEP:  BFCSA will lobby for the current system to be abandoned and an equitable system of investigations into criminal activity by the major banks and other lenders be urgently put in place by our Government.  We will be loading up into our Bankileaks, all the documents relating to dumb decisions and drivel that has come from the External Dispute Resolution Services at the behest of the Australian Securities and Investment Commission.

Yes Vic we will be pushing this.  There are many of us that feel in light of the fact that a judicial review of decisions by FOS cannot be pursued then bias can go unchallenged, I have a matter that has been within the FOS for more than two years and may be resolved soon, it possible can this be reviewed here with a view to exposing bias and maybe help others.


There are many of us that feel in light of the fact that a judicial review of decisions by FOS cannot be pursued then bias can go unchallenged. I have a matter that has been within the FOS for more than two years and may be resolved soon. Is it possible can this be reviewed here on the BFCSA site with a view to exposing bias and maybe help others.

YES indeed Vic.  BIAS WILL BE EXPOSED as we have collected four years of evidence.  THE EDR BIAS is now more pronounced then ever. For a while we were willing to give FOS and COSL the benefit of the doubt.  But no more.  We have amassed the evidence of BIAS in decisions and will be exposing the criminality of the problem.  It cannot continue.  Consumers have been getting a raw deal for over a decade.    ASIC is at the bottom of every one of these problems for cosnuemrs of mortgage products and other financial services.  This email address is being protected from spambots. You need JavaScript enabled to view it.

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  • doyla66
    doyla66 Tuesday, 08 April 2014


    Along with ASIC, the FOS and COSL are going to be exposed for what they are and will be their own worse enemy with their biased decision making. It's not only us BFCSA members but it's also some of the senators who have the balls to go the extra mile on this cover up that evidence can not be refuted. Quite a few of the senators have been sent all details of my situation and I have had some interesting return ones from them. We have our case at determination at present and a report will be forwarded to them. Almost to the stage I can't wait.

  • doyla66
    doyla66 Tuesday, 08 April 2014

    Our case is at determination, the report will be going to the senators also.

  • doyla66
    doyla66 Wednesday, 09 April 2014


    The bias does not only come into play with the banks and lenders, the same applies when the matter involves insurance companies.

  • doyla66
    doyla66 Saturday, 12 April 2014

    OMG i cant wait for that day. My 3 cases completey by pased all stages of the FOS dispute process & went straight into determination. All relevent banking laws, consumer laws & contract laws were ignored, the overal assessment was in favour of the banks we tried to argue it all but it all fell on deaf ears. Our cases were not investigated properley at all not even by the ombudsman. I cant wait the day we can have our cases re-opened & investigated properley.

  • doyla66
    doyla66 Sunday, 13 April 2014

    Betrayed by COSL

    Yep we have just been betrayed by COSL. We have lost our home, life savings and retirement nest egg and COSL doesn't find any fault of the lender who perpetrated the Maladmistration upon us? Yet another Australian family thrown on the scrap heap and instead of living the independant self funded retirement we have worked 40+ years for we will now be dependant on the aged pension! Shame so called regulator! bring on a Royal Commission!

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