BFCSA Blog

    Marching orders for middle income exiles   Updated: 2:25:19 PM, Wednesday October 03, 2012   By Robert GottliebsenFirst published 19 Sep in Business Spectator   Image: © japolia - Fotolia.com   Cracks in Sydney and Melbourne's middle class employment are starting to emerge, in the foretaste of a wider trend that could be a boon for Julia Gillard. The Eastern suburbs of Sydney and the inner city areas of Melbourne, both high to middle income havens, are showing signs of cracking. As we discussed, while most of the of the escalating middle income unemployment is hidden (See: "Invisible cuts to the middle class"), some clear surface signs are emerging. The eastern suburbs of Sydney have one of the highest proportion of people employed in the finance and professional services sectors in the country, around 80 per cent of households. Research by Brian Redican and Macquarie Bank shows that in...

0 0 0 Hold Corrupt Bankers Accountable for Fraud   BY OLIMPIA LEE   Target: European Parliament   Goal :  Hold corrupt bankers accountable for their fraudulent actions   Big banks have been caught rigging global interest rates and ripping millions of people off, but they still have not been held responsible. Now, the EU finance regulator is standing up to big banks and taking action to bring much-needed reform. Urge the EU to stand up to the powerful bank lobby and hold corrupt bankers accountable.   It is public knowledge that big banks such as Barclays have tweaked global interest rates to receive more money from people paying their mortgages, student loans and other debts. This behavior should be punishable by jail, but Barclays only got fined a small fraction of its profits due to the powerful bank lobby. Considering the waves of banking crises that continue to affect our economies and livelihoods, a...

The Senate Inquiry, last week, was told that Australian is losing its taste for credit. The demand for home loans is probably dropping as well. Borrowers are paying off their home loans more quickly. So where are the lenders going to find more clients willing to sign up for credit to keep their bottom line? And are the lenders getting the message yet: more Australians are a wake up to credit rorts these days and are shopping around for better - and straighter - deals. It was too much to expect that all dodgy deals and credit tactics would stop last week when the banks got a collective attack of conscience over their lending "mistakes"! It's still going on ... in other credit markets ... This story is not about a Lo Doc Home Loan. It's about a vehicle leasing agreement with similar problems. Steve, the maintenance guy, went to replace...

Has anyone heard of or had dealings with City Link Finance? I have an Originator Number 19 on the documentation. The year of the application is 2003. I've been trying to locate the company on the off chance that they may have the originals (wet ink) of our LAFs. I have copies of just a few pages from First Mac/Tonto, but they were copies from the faxes received at Tonto in Brisbane. I've already asked the broker but had no reply. He was a friend/colleague of my late partner. Otherwise I'll have to work off the faxed and scanned copies. Thanks Lisa...