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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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Catch the Senate tonight: 9.45PM Canberra Time

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Don’t Forgetthe SENATE ESTIMATES HEARING TONIGHT at CANBERRA TIME, NSW, VIC   9.45PM

This means, due to daylight savings on NSW and VIC and off all over the rest of the country: 

WA Time 6.45PM

QLD Time 8.45PM

SA Time 8.15PM

TAS ?

THE LINK to watch the Senate ESTIMATES HEARING is via BFCSA website AT THE ABOVE TIMES:

The link to is:   http://bfcsa.com.au/index.php/resources/watch-the-senate  (under Resources)

 

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  • doyla66
    doyla66 Thursday, 18 October 2012

    Anyone able to access this 'LIVE' event? Please provide link, as I am having trouble finding it.

  • doyla66
    doyla66 Thursday, 18 October 2012

    I think this is the right place: Senate, Economics Legislation Committee (Senate Estimates) Thu, 18 Oct 2012
    Greg Medcraft (ASIC) is on now.

  • doyla66
    doyla66 Thursday, 18 October 2012

    Thanks Lisa - Looks like I can access it via Internet Explorer only.

  • doyla66
    doyla66 Thursday, 18 October 2012

    Have they mentioned BFCSA / Fraudulent LAFS's yet? Watching now ... just not sure what I have missed.

  • doyla66
    doyla66 Thursday, 18 October 2012

    BFCSA and Fraudulent LAFs? I didn't hear anything about it.
    Not in ASIC's dictionary. They're still on song with the govt trying to prove everything is fine and we're just a deluded minority group! The Committee were still too soft on ASIC.
    Why can't our politicians admit everyone made a mistake about the Banks and then move on with fixing it?
    Coverups and egos!
    ROYAL COMMISSION INTO BANKING - WIDE TERMS OF REFERENCE - NOW!

  • doyla66
    doyla66 Thursday, 18 October 2012

    Looks like Penny Wong is more interest in the 'new information' she has received, rather that being a part of what is going on at them moment! She can't take her eyes (and pen) off the document in front of her!

  • doyla66
    doyla66 Thursday, 18 October 2012

    Kell still has Bank Blindness and Blinkers!

    It's incredibly frustrating to hear Commissioner Kell still trotting out the same stuff. Are we doing anything - sure, we're busting brokers. "Bank Blindness" in action.
    One LAF sent it clearly showed document falsification done by the lender in house, no broker... guess what: ASIC didn't choose that one for their PR exercise with broker busting. But they recommend it be sent to the police - still.
    Then to hear Kell also talking about the failure of people to send in follow up information as requested. Were any BFCSA people in that situation?
    I'd like to suggest a Senate "compliance officer" spend a month in the section of the ASIC office that does that sort of work so they can see what the real situation is behind the "we're fine, fit and fabulous" rot by ASIC and others.
    Commissioner Kell, if it's all that rosy can you tell us why BFCSA have at least 20 new loan fraud cases coming in each week? It is because they come to BFCSA and bypass ASIC as an exercise in futility?
    Nice one John Williams asking about the complaints code that ASIC helped set up but don't subscribe to! ASIC have to take that as a question on notice???!!! as if it's something foreign and hard to answer? When they set it up with does imply some sort of knowledge of its workings, standards and relevance to ASIC.
    That will be interesting.
    ASIC - short on facts, skating the surface of everything except the prepared talks.
    Trying to pull the wool over everyone's eyes - this is not working as BFCSA challenging the assumptions and the answers.

    Keep it up!

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