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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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Senate Inquiry into the post-GFC banking sector - Program Day 1

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Senate Economics References Committee
Public Hearing
Inquiry into the post-GFC banking sector
Wednesday 8 August 2012
Committee Room 2S3, Parliament House
CANBERRA


PROGRAM


9.00 am – 10.30 am
Department of the Treasury (submission 120)
Mr Jim Murphy, Executive Director, Markets Group
Ms Irene Sim, General Manager, Retail Investor Division
Mr Ian Beckett, Acting General Manager, Financial System Division

10.30 am – 10.45 am Break

10.45 am – 11.45 am
Australian Bankers' Association (submission 46)
Mr Steven Münchenberg, Chief Executive Officer
Mr Tony Burke, Policy Director
Mr John Stamolis, Director of Statistics

11.45 am – 12.30 pm
Mortgage and Finance Association of Australia (submission 52)
Mr Phil Naylor, Chief Executive Officer

12.30 pm – 1.30 pm Lunch break

1.30 pm – 2.15 pm
Australian Centre for Financial Studies (submission 49)
Professor Kevin Davis

2.15 pm – 3.00 pm
Banking and Finance Consumers Support Association (submission 91)
Ms Denise Brailey, President

3.00 pm – 3.15 pm Break

3.15 pm – 4.00 pm
Australian Securities and Investments Commission (submission 97)
Mr Peter Kell, Commissioner
Mr Michael Saadat, Senior Manager, Deposit Takers & Issuers

4.00 pm – 4.45 pm Mr Sean Butler (submissions 111 and 124)

4.45 pm Adjournment

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