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.
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.
The Australian Securities & Investment Commission ("ASIC") are virtually sitting on POWERS to protect the public. They were given over $40 million to run cases in the public interest and that may have been an annual hand-out...............Whatever ASIC spent this money on it was NOT in the Public Interest but spent on continually replacing decent staff that desert the sinking ship "SS Corrupted ASIC" in large numbers. Former staff are sick to the back teeth of Government's that do not respond to the obvious corruption of ASIC by Banksters. ASIC is being paid $400 million a year to protect Banksters and in turn, neglect consumer complaints of losing homes and business. I have no problem in naming CBA as one of the worst offenders according to my records.
CBA are also bullyng customers into signing Privacy Statements to receive the Loan Applications Forms that they were legally entitled to receive as...
Struggling to find Happiness?
I've got your answer. Found it yesterday in the carpark at Officeworks.
Emblazoned along the side of an orange car:
"Happiness is a Bankwest Home Loan. Talk to your broker today".
There. You didn't know it was so easy did you?
Who would have thought that a quick trip to Officeworks would have solved so many people's problems!...
10.58am: The first bits of news are escaping from the CommBank AGM, with chairman David Turner telling investors the demand for credit would remain subdued while the world sorted out the current economic mess.
In Australia, Mr Turner said while he was optimistic about the medium-to-long-term outlook, the local economic climate remained uncertain.‘‘It’s difficult to see the catalyst for alleviating the uncertainty which will continue to affect consumer and corporate confidence,’’ Mr Turner told shareholders.
‘‘So, in the near term, we expect demand for credit to remain subdued and we will retain our conservative business settings.’’
Read more: http://www.smh.com.au/business/markets-live/markets-live-sandy-spoils-the-party-20121030-28gg4.html#ixzz2Am1Qm8HK
11.35am: More from the CBA AGM, chairman David Turner said it was unlikely there would be any significant improvements in macro-economic conditions in the coming year.
There were no signs of a sustained recovery in the United States, and it was difficult to see how Europe could resolve its problems quickly, he said....
Inquiry into THE POST – GFC BANKING SECTOR
Submission 105
I note that many of the submissions already made to the inquiry deal with complaints about the behaviour and conduct of insolvency practitioners, and lawyers involved in enforcement action by secured creditors.
Some history of my involvement in insolvency and commercial litigation
I have nearly 20 years experience dealing in the matters relevant to the terms of reference.
Agtion became involved in the specialist consultancy discipline of a forensic analyst dealing in principally banking and insolvency matters as a result of it, and its associated companies being forced into so called “voluntary receivership” by a major bank in 1996.
The companies and I commenced litigation after the companies were released from receivership in 1999. The legal battle against the bank continued until it was resolved in 2007. I am experienced in litigation mainly due to my need to appear and represent...
BY GUY GOLDRICK BANKWEST CLASS ACTION GROUP
02 Dec, 2011 04:00 AM
AN article in Queensland Country Life reported that Bankwest had called in receivers on the properties owned by Richmond Mayor John Wharton. He is not alone so much so that I have formed a class action group over of Bankwest's actions since they were bought out by CBA.
The outcome is many hard working Australian families and businesses have lost everything because of the corporate greed of CBA and the need to be seen to be doing the right thing by the Government. I would put losses by these families and business at over half a billion dollars.
We believe there have been backroom deals done between the Government and the CBA on this. The huge winners have been CBA and the receivers who feed off the carcasses of the Australian families and businesses that CBA/Bankwest has...
Back in early 2008, the Australian economy was going well. With the property market booming many businesses took out loans from Bankwest, a small but aggressive lender based in Perth.
Then came the GFC. With its parent company in Britain facing dire financial problems, Bankwest customers began withdrawing money from their savings accounts. The Reserve Bank was worried and the Commonwealth Bank saw an opportunity. Moving fast the Commonwealth took over Bankwest for the bargain basement price of $2.1 billion.
From everyone's point of view, including Australia's central bank, it looked like a good deal. But what happened next shocked customers.
The Australian Securities & Investment Commission ("ASIC") are virtually sitting on POWERS to protect the public. They were given over $40 million to run cases in the public interest and that may have been an annual hand-out...............Whatever ASIC spent this money on it was NOT in the Public Interest but spent on continually replacing decent staff that desert the sinking ship "SS Corrupted ASIC" in large numbers. Former staff are sick to the back teeth of Government's that do not respond to the obvious corruption of ASIC by Banksters. ASIC is being paid $400 million a year to protect Banksters and in turn, neglect consumer complaints of losing homes and business. I have no problem in naming CBA as one of the worst offenders according to my records.
CBA are also bullyng customers into signing Privacy Statements to receive the Loan Applications Forms that they were legally entitled to receive as...
ASIC spent money earmarked for public cases on replenishing staffing levels ... and goodness knows what else. Where's the real acc