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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: Imagine if a number of people all decided to rob a bank today........and the Government changed laws to legalise the practice

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Imagine if a large number of people all decided to rob a bank today (please IMAGINE and do not do this) and the Government decided to create NEW LAWS to suggest that this illegal act was no longer illegal and you are now all free to do this again and again?

WELL THAT is exactly what our Government has done for the Banks at the expense and trauma of its own people.  The Australian Government knew for close on two decades that people were being deliberately and maliciously targeted by Ganksters acting as Banksters.......with the clear intention (according to evidence BFCSA has amassed) of stealing homes from low income families and pensioners and charging high end fees for the privilege.

The Government decided on 1 July 2010 to do something extraordinary.  We had several laws in various states and also the ASIC Act, to protect consumers from KNOWN predatory banking and bad lending practices which had been rife in the Banking Sector, certainly since 1994.  In 1996/7 we had the Stan Wallis Inquiry (not a Royal Commission into Banking).  The game played on.............................Banks made massive profits from a fraudulent product known as LOW DOCS and even worse blatant NO DOCS - for two years.  Government must have whispered to the Banker Mates: "that's a bit much - tone it down - we have an election in three years"  Yes folks, No Docs were then abandoned.

Of course the civilians had no idea of the above and were left like lambs to the slaughter.  Home repossessions became the favourite pastime of the Banksters.  Most 30 year loans imploded within 6 years or less.  The new laws known as the NCCP (Misnomer: as National C. Consumer Protection) was not really NEW LAWS and certainly not to intentionally target lenders.   The Government gathered all the state laws and federal laws and bound them into one framework.....a good idea in principle, yet all these laws were there in several forms previously but not one agency USED THEM to curtail the illegal use of predatory products by the Banksters.  

The POLICY of both Government and Public Servant Agencies and Regulatory Authorities was to use the new laws for four purposes none of which would protect consumers and instead would allow the Banksters to PLAY ON as normal.  

The Cover-Up and hide the bodies Solution.

1.  The NCCP placed the ONUS of affordability (under the Bankers Code of Conduct in place for decades) on to the Broker and not the Lender (well it says Lender but its not impotent tool you may say).  In reality the plan was to jail a couple of brokers here and there in a staggeringly unfair method of ASIC suggesting to the people that they do occasionally DO SOMETHING.  Brokers cop the Blame.  Banksters continue BUSINESS AS USUAL.

2.  ASIC KNEW the Brokers were not licensed to give financial advice and KNEW the only way these time-bomb loans could be sold was by promoting a Bankster devised "financial strategy."  Banksters used Brokers to avoid liability and told them to register their own companies.................but called "our" Brokers "OUR JOINT PARTNERS" OF THE BANK!  Go figure that one!  Yes yes, we have the evidence of course we writing.  Banksters also had Loan App Forms which stated AGENTS name and AGENTS # and yet told our Judiciary that "They are not our Agents." The purpose of this of course was to specifically AVOID LIABILITY when their own manufactured fraudulent product IMPLODED as intended by the Engineers at the top of the Bankster Lairs.

3.   ASIC KNEW that in the formation of the new NCCP laws in 1 July 2010 was a ploy to wrongly suggest the instances of fraud as decreased..............The product could not be cleaned up it is a dirty product....................and, an illegally manufactured product, yet ASIC permitted the same product to be sold using the same financial strategies that had caused the loss of homes in the first place.  Yet the purpose was for ASIC to not want any cases investigated prior to 1 July allow the Banksters to keep their ill-gotten loot for all the FRAUDULENT MORTGAGES prior to 1 July 2010.

4.  ASIC could then say: "since 1 July 2010, that problem has diminished."  Oh so there is only a MODICUM OF FRAUD GOING ON?  Fraud, predicated on INTENTION TO DECEIVE is OK for Banksters but, not the rest of Australian Ciitizens?  So Banksters are protected species and they can prey on the vulnerable but the vulnerable if they rob a bank will go to jail..............................

Is that the society our forefathers envisaged for us a free and fair society?  As our famous Hoges would say: "Fair lick of the Sav."

What the Government failed to understand was that ASIC was lying.  ASIC had been corrupted by continually communicating with Banksters on a regular basis and had no skills at all in communicating with consumers.  They have never met a consumer!

Both sides of politics have been left with the elephant in the room:  The Australian Sub Prime disaster and re-badging old laws as NEW LAWS and placing the onus on the broker to do that which he/she is neither licensed or trained to do is a recipe for civil unrest.

The Global Financial Crisis was avoidable had the countries who are suffering (and we are next for austerity) NOT DEREGULATED THE BANKING SYSTEM.

Banks handle MONEY - they are the money would think we would all be screaming in the streets to have the TIGHTEST OF LAWS and oversight on our banks.  But NO.  After 2008, our Government denied we had a problem and still do so.  In fact we crowed we have the best banking system in the world....then we crowed we had the safest economy when our banks are > 40% owned by America.  

BRINGING BACK REGULATION AND OVERSIGHT to our Banking Sector ought to have taken place in 1996 when the first Low Doc problems surfaced. Peter Costello boasted in international speech 1996: "we will have the best Consumer Protection in the world....." and then set up ASIC!!!!  OMG and now he has been told he is the new chief of our Future Funds.  Poor Pete just is great at looking the other way and how does that help us?

Now we have the same problem that' been looming large for over two decades:

Can you imagine of the Government said robbing a bank is illegal, but the new laws will mean they will never be used against you - so go for it?  That's the IMMUNITY the Banksters have been given - stealing people's homes using and approving 

And do not fall for the latest round of ads saying DEBT FREE - its another ASIC sanctioned scam involving "hardship" rubbish which is limited to use 3 times and then the banks take your home anyway.  Its a buffer run..........................buying time with more lovely fees for banks............time to wake up to ASIC.

Can you please write to the SENATORS and ask them to ask ASIC a few of the most important questions:-

Why did ASIC 'assume' that Banksters were honest and handling complaints of fraud internally with the utmost of respect  for consumers?"  

Why didn't ASIC report the instances of 100% of cases of fraudulent LAFs to the Australian Federal Police ("AFP")?

Why didn't ASIC notify AFP of the mountains of evidence regarding intention to deceive?

SENATE SUBMISSIONS - THE INQUIRY INTO THE PERFORMANCE OF ASIC have risen to 396.  Come folks, doors are still open.  Just write one pager on why should Robbers internal to the Banking System be treated with immunity when they are intentionally manufacturing faulty loan products 30 year loans set to implode in six years.  Why are there NO EXTERNAL AUDITS ON CLIENT FILES when the sub prime model of lending is obvious here in Australia and has been for two decades?

If you are not a bank victim of fraud, you will all pay an austerity price.

As the latest bank employee whistleblower is saying: Yes the loans are being tampered with internal to the happens wherever there is money.......................and the bank deals with these instances internally.   ASIC "assumes" banks are self regulating."

BFCSA know a BANK CARTEL COVER-UP when they experience its dreadful aftermath.

We want 500 submissions: so start writing a second submission

The Banks send a cheerio to all those about to lose their homes at Christmas..................................

In the New Year we will have our own cheerio message for the Banks.                      This email address is being protected from spambots. You need JavaScript enabled to view it.



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  • doyla66
    doyla66 Thursday, 19 December 2013

    Banking Code of Conduct are meaningless words that no banksters listen too and alot of lenders aren't even party to, so its all B/S from the start. To have any body to be self regulatory is a major cause for concern when we are dealing with hundreds of bilions of dollars and tens of thousands of people's livelyhoods and futures. We as members of society have to be accountable for our actions, what gives the banksters a gold card to be above scrutiny? They should be under constant surveilance because greed and corruption go hand in hand with the banksters. The banksters are so ingrained into our politicians, regulators and legal system that it is near impossible to get anyone in power to take them on and as the toll of poor victims keep mounting and we keep bleating and crying for help we watch on television our politicians and banksters drinking champagne and socialising together at different functions and yet we can't get as much as a simple reply from our leaders when we write or email asking for help. I have one simple question P.M Abbot, why are the banksters above the law? Both political parties are guilty of protecting them, both parties have known for along time the banksters practice of with holding LAF documentation from the consumers and refuse to act to force them to disclose said information WHY! The banksters are now gearing up for the next phase, they have our homes and now they want all our Super. If the government are worried about baby boomers now and how to support them , whats going to happen when the self funded retiree's are fleeced by the banksters and they have to fall back onto the government for financial support?

  • doyla66
    doyla66 Thursday, 19 December 2013


    I wrote a submission today.
    Can I do another tomorrow?
    There is so much more I want to say.
    I want to tell my whole story.
    After reading about it on the BLOG, I now see I can say so much more.
    Can someone tell me if I can submit another one.

  • doyla66
    doyla66 Thursday, 19 December 2013


    Woke up this morning.........
    decided I will write another one either way.......and file this 2nd one away for Jan when all the media return to work.
    there are NO rules...........why on earth would i think for a split second i was unable to submit a 2nd email........
    again............THERE ARE NO RULES....................
    that is why we are on this mission.

  • doyla66
    doyla66 Wednesday, 19 February 2014

    Have been jousting with a bank for some time now by exchange of letters. There are questions the bank has been asked to answer re the origin of the funds allegedly loaned but these have never been addressed in any bank response. I agree that a royal commission is long overdue but if the government is bankrupt and beholden to the banks, how can that nexus be broken. A favourable court decision would be the next best thing, but it would require engaging the services of a brave former high-level banker to act as a specialist witness for the beleagured individual facing foreclosure. Where can one of those be found? I appreciate the excellent work you have been doing and are continuing to do, and if more details of what we have been doing would be helpful we will provide them. I look forward to receiving updates regarding BFCSA activities and research. Cheers - Stuart.

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