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BFCSA
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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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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.

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http://www.afrsmartinvestor.com.au/p/shares/banks_told_to_brace_for_correction_a8rwhaXju7rXzDFaznEtzK Banks told to brace for correction Published 22 August 2014 Key takeaway: FSI chair warns inevitable correction will put more ­political pressure on financial systems. David Murray has said his Financial System Inquiry needs to shore up the banking system to be ready for a ­correction in asset prices that have been inflated by unprecedented global ­monetary stimulus.  In a speech that adds to comments two days ago by Reserve Bank of ­Australia governor Glenn Stevens that investors have become too ­complacent about market pitfalls, Murray put the argument for increased ­regulation of the financial industry. “The ­post-crisis monetary ­settings have distorted asset prices again,” he said. “That is going to cause a correction at some point, which will put more ­political pressure on financial systems.”  The potential for a fall in share and property prices would expose the Australian banks to big losses. Murray suggested in his interim report...
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  • setup
    setup says #
    There needs to be a controlled regulation of the entire financial industry. and where are the victims in all of this? Not one word
  • Aries
    Aries says #
    If all goes against bank victims at this inquiry the LNP will be wiped out at the next election. Mathias Cormann you will be at t
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 ASIC ONLY ANALYSED THREE BORROWERS?????   Refinancing was rife throughout the decade!!!!  ASIC had this info and did nothing against the LENDERS involved and KNEW they were using The Fudging Figures Program using a Fudging Machine: SERVICE CALCULATOR!  This email address is being protected from spambots. You need JavaScript enabled to view it. This report remained buried from public view............................No-one from Treasury read it!  Thanks to one of our top researchers.  Start digging into all ASIC Reports on Low Docs, Lending practices and Loan Defaults and mortgage stress and hardship.  Seven Banks involved.....yes we know All Members should be digging.....................................and reading and reading.........................what ASIC knew and when. ASIC REPORT 152  MAY 2009  1 This covered 15 lenders in total including 7 banks, 4 credit unions and friendly societies, and 4 non-banks. 2 The mortgage broker questionnaire was compiled with the assistance of the MFAA and sent to 9 brokers and broker groups, all members of the MFAA. 3 REP 119 Protecting wealth in the family home—An examination of refinancing in response to mortgage stress, March 2008,...
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  • doyla66
    doyla66 says #
    Declan Carnes ( BOQ Bank Manager) - infamous from BOQ North Ward - re Storm Financial and Doyle case with ASIC is due to be in Bri
  • Denise
    Denise says #
    Hi Kevin - none in Qld, one in SA and none in WA or TAS. Reason: NSW had Contract Review Act 1980 to protect consumers from UNJU
  • doyla66
    doyla66 says #
    Denise why is there not a huge history of success in WA like NSW as to mortgage fraud, The WASC and the WA SAT have virtually no h
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