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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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Subscribe to this list via RSS Blog posts tagged in banking code of conduct
On the FOS website there is a Presentation entitled: Essential Banking Law and Practice It's dated 2007. http://www.fos.org.au/centric/home_page/news/presentations.jsp Is this information sufficiently up to date to use the information in it? If not what do you think I should ignore in it? Does anyone have a link to a more recent version of this? I've written to FOS to ask them as well. Thanks Lisa   UPDATE: For more up to date information http://www.fos.org.au/centric/home_page/publications/the_circular.jsp On this page is a downloadable index of articles which look very interesting indeed - all from "The Circular" which is sent out to subscribers to FOS updates. The previous publication, The Bulletin, may also be of use. http://www.fos.org.au/centric/home_page/publications/bulletins/banking_finance_bulletins.jsp        ...
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Posted by on in Political Blindness
FEDERAL independent Andrew Wilkie wants to give customers more power when they are in dispute with banks. Full Story: The Tasmanian MP on Monday introduced a private member's bill into parliament for a mandatory code of conduct for banks, drawn up by the government and overseen by the Australian Prudential Regulation Authority (APRA). APRA would have the power to "name and shame" banks and, in particularly bad cases, fine them. Mr Wilkie said the existing voluntary code was a "toothless tiger" that gave all the power to the banks and ensured most complaints were resolved in their favour or not resolved at all. Since 2004 there had been about 2.5 million complaints, but just 200 had been fully investigated. Mr Wilkie said the banks had had the upper hand for too long and a mandated code would give some power back to their millions of customers. Debate on the Banking Amendment...
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  • doyla66
    doyla66 says #
    Another hero with Senator Williams - still no response from other ministers I tweeted. !!
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