News Articles


Brailey takes on loan spruikers again

Denise Brailey, the consumer advocate who uncovered WA's finance brokers scandal and pursued property spruikers across Australasia is back on the warpath again.  After 18 months of rural semi-retirement painting and go-cart riding, Denise Brailey has set up a new consumer action group and is investigating complaints from people who have lost money through loan and property deals.

Denise Brailey on ABC TV Aug 2012

 LEIGH SALES, PRESENTER: America's subprime mortgage scandal triggered the Global Financial Crisis and the world's still recovering from it. What's less known is that Australia too had its own subprime loans scam, the full extent of which is only just emerging.  Banks and other lenders abused the system of so-called low doc loans, which are designed for small business people.

Denise Brailey warns about Westpoint in 2006

Friday, 21 April , 2006  18:34:00  Reporter: David WeberMARK COLVIN: Investors in the failed Westpoint property group have taken some heart from the appointment of receivers to the directors' private assets.  Westpoint collapsed earlier this year, in a crash that could cost investors more than $300 million.  Thousands of people had invested in the Perth-based group, which had property interests and financial support across the country.  Many of them believe the Australian Securities and Investment Commission could, and should, have done more to stop Westpoint

Westpac to Charge Interest on Interest

Westpac is under fire after informing credit card customers it will apply interest to their interest charges and fees.The move has since been labelled "sneaky" by a consumer group  and Treasurer Wayne Swan has labelled Westpac "a serial offender".

Bank Of QLD Backs Franchise Benefits

Bank of Queensland CEO Stuart Grimshaw tells Alan Kohler his company's unique franchise model works well for them and their customers.

Provident Capital Forced into Receivership

A MASSIVE slump in the value of property development sites owned by controversial developers Pat Zarro and Gary Blom and others has forced beleaguered debenture company Provident Capital into receivership.

Storm Victims Converge on Court

DOZENS of Storm Financial investors have converged on the Federal Court in Brisbane as a hearing into its collapse begins.

Banksia Finance Collapse

Channel Ten interviews BFCSA related to the loss of over $660 million of investors' money wiht the collapse of Banksia Financial.  Directors are also linked to another lender, Pearl Finance.  VIDEO

ASIC Acts on Banksia and Provident Failures

ASIC is set to undertake a wholesale review of the way it regulates the debenture industry following the collapse of Banksia Financial Group and Provident Capital.