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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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Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

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BFCSA: NAB and Thorburn looking after Shareholders and screwing the customers

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NAB CEO defends slim mortgage rate cut

Breaking News Business National Business

August 4 2016


NAB chief executive Andrew Thorburn will tell a parliamentary committee that his bank had to balance the needs of borrowers, savers, investors and shareholders when it decided not to pass on in full the Reserve Bank's latest rate cut.

Mr Thorburn said on Thursday he will accept an invitation to address the committee after Prime Minister Malcolm Turnbull announced that the banks will be called on once a year to give a full account of their dealings, including interest rate policy.

"The setting of interest rates requires this delicate balance because different stakeholders have different needs," Mr Thorburn said in a statement.

"We set a rate for mortgage customers that reflected the balance between all our stakeholders. If we don't get this right, it is inevitable we will lose business, and become a less competitive bank."NAB's rate cut in the wake of the Reserve Bank's decision was the smallest of all the big four lenders.

While the Reserve Bank cut the cash rate by 0.25 per cent to a new record low of 1.5 per cent, NAB will cut its standard variable rate for owner occupiers by 0.10 per cent, ANZ by 0.12, Commonwealth Bank 0.13 and Westpac 0.14.

The banks say their margins are under pressure from a competitive home loan market, tightened capital requirements and wholesale funding costs.

"The decisions we are making every day are done in the context of an uncertain international economic environment, in a highly competitive marketplace, where the bank is subject to significant regulation and where there is major transparency of our operations," Mr Thorburn said.


"There are a lot of people who rely on us getting the balance of these decisions right, including our 35,000 staff."

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