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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: Name and Shame the CEO's of Australian Major Banks says ex ASIC executive

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CEO's should spend two days and one night in olden day STOCKS in Martin Place and the heart of Melbourne for every charge of Maladministration.  That's JUSTICE for mortgage victims and that equates to 600,000 nights and rising.  Long suffering Low Doc victims and Farmers will supply the tomatoes!  
Time to give Bankers a bit of "vertical."
Banks must be 'shamed' on vertical integration

By Alice Uribe

Friday, 28 August 2015
There has yet to be "sufficient shame" applied to the banks and their chief executives to reduce the problems inherent in vertical integration, argues a former ASIC executive.

That was the view of former ASIC economist and founder of Erskinomics Consulting Alex Erskine at yesterday’s 15th Annual Wraps, Platforms & Masterfunds Conference in the Hunter Valley.

“After [the next] fiasco we should have the CEO of the bank put their enforceable undertaking between their teeth and crawl naked to deliver it to ASIC,” he said.

Speaking to a room of nearly 200 delegates, Mr Erskine added that vertical integrations prevents institutions from having meaningful conversations with their customers.

“I think it’s a constraint because there is so much to defend when the empire is so large,” he said.

“It's not clear that the industry is understanding the problems with vertical integration – nor is it making a clear case for change.”

Mr Erskine said that being vertically integrated stops the big institutions from making convincing proposals.

“If you were only running a planning or broking [business] and they were not related [it would be one thing] ... but when you have the whole lot,

into how to measure all this,” he said.

“Being a vertically integrated industry, its not clear what the major banks are”.

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