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BFCSA
MORTGAGE
DISTRESS SOS

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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: Who Do You Really Bank With?

Posted by on in BANKSTERS
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 " Hi Denise,

....  "In response to concerns over how our financial institutions operate, we recently launched a piece of research on the issue of bank ownership in Australia. Often consumers who choose to bank with smaller, more independent banks may, in fact, be banking with one of the 'Big Four'. In addressing this problem we've visualised the state of bank ownership across Australia in one graphic.

 

http://www.creditcardcompare.com.au/who-do-you-really-bank-with-infographic/

 

 THE MULTI-BRANDING STRATEGIES EMPLOYED BY BANKS ARE MISLEADING AND CONFUSING FOR CUSTOMERS.

 

“In Australia, the big four have basically locked up the mortgage market and as a result consumers are at their mercy when it comes to interest rates" .......

.....“This is not a great situation for consumers or the industry”.

 

......." another independent study found that almost 50% of people surveyed did not know that Westpac owns St.George – the level of ignorance was even higher when it came to the big four’s ownership of BankSA, Bank of Melbourne and BankWest. Westpac, for one, is fully aware of the benefits this bring to the company, it would appear. Murray points to a 2011 statement made by current CEO of Westpac at the Senate inquiry into competition and banking: “The customers who have chosen St George do not want to bank with a major bank.......”

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  • doyla66
    doyla66 Saturday, 18 January 2014

    people think by banking with the smaller guy that they are making a point to the big four!! the joke is on them as the big four own most of the small guys

  • doyla66
    doyla66 Saturday, 18 January 2014

    Due Diligence - Australians must learn to look before they leap: there's no automatic safety net in finance

    Yet another dimension to the Bankster con job.
    It's amazing how little people know about the Banks they deal with and the Lenders they place their future, their homes, their assets and their family's well being in the hands of.
    It's still caveat emptor in the financial services industry here. Like Humpty Dumpty if you fall or fail don't assume anyone will pick up the pieces and put you back together again. Services do exists to assist you but you have to be able to find them and access them - it's not easy at all. If you don't mind living on the streets or at the Salvos for a few years - after bankruptcy - I've heard you can make a relatively neat exit from the money, legals and paperwork nightmare.
    There's FOS, COSL, ASIC plus IDR and insurances - that's if you feel like doing anything at all after being trashed by Bank credit staff on the phone, not to mention Gadens and the rest.
    And the horrid part is that your small friendly Bank might be nice and friendly when you're worth money to them, but if you default or stuff up the full weight of the Big 4 Banks and their major shareholders are likely to loom large and knock you flat, leaving you wondering what happened to your nice little Aussie Bank.
    Stay away from the Banks - you never know who might be pulling their invisible strings or buying out your Bank next, changing the whole game plan, leaving you broke, like the Bank West clients.

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