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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: SMH - Big Four dilemma looms - failure not an option

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Big four dilemma looms but failure is not an option

Georgia Wilkins April 18, 2014

''This is not an unfair tax on our largest banking institutions' says Louise Petschler of COBA.

''This is not an unfair tax on our largest banking institutions' says Louise Petschler of COBA.

Five-and-a-half years ago, amid the financial strife unleashed by the collapse of Lehman Brothers, the US government stepped in to bail out financial institutions across the US – deciding the risk of moral hazard was preferable to an even greater financial calamity.

The outrage flowed from large sections of the US public – why should the apparent architects of the crisis be saved from their own mistakes?

In Australia, amid mounting rumours of a run on a second-tier bank, the Rudd government moved quickly to guarantee all bank deposits up to $1 million. It was enough to stem any panic – and cost taxpayers nothing.

The guarantee still stands for deposits up to $250,000. But it is not clear how it would be funded should it be needed.

And now, as submissions roll in for the Abbott government's financial system inquiry, debate is centring not only around this explicit guarantee enjoyed by all Australian banks – but also the implicit, unspoken understanding that a government would be all but forced to bail out any one of Australia's big four banks, each of which is considered far too big to fail.

Sitting in the big four banks is $522 billion worth of Australian household deposits. This is equivalent to one-third of Australia's gross domestic product; the loss of just a fraction of these funds would represent a major burden for taxpayers.

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