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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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Subscribe to this list via RSS Blog posts tagged in FoFA is now watered down Consumer Protection
Financial Advice laws reversal to go ahead Business Banking and Finance Date September 27, 2014   Gareth Hutchens and James Massola The federal government looks set to secure its plans to wind back Labor's changes to the rules governing financial advice, despite a senate committee filing a disallowance motion on the bill this week.  Finance Minister Mathias Cormann says he hopes to introduce the bill to the senate next week, while Clive Palmer says his Palmer United Senators will vote for the bill, to honour an agreement struck with the government. Confusion arose on Thursday about the future of the government's controversial financial advice laws after the senate standing committee on regulations and ordinances committee, chaired by Nationals senator John ­Williams, moved a disallowance motion on the bill.  The committee said the FoFA regulations were not the appropriate way to introduce the financial advice regime and it gave notice it...
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Continue reading Comment: Cormann’s FOFA changes a gift to big banks PUBLISHED: 20 Jun 2014 13:06:00 | UPDATED: 22 Jun 2014 10:23:52PRINT EDITION: Christopher Joye The Coalition’s ostensible back-flip on its “reforms” to the Future of Financial Advice (FoFA) Laws, which were originally introduced by Labor to thwart mis-selling crises, will still radically change the way financial service products are sold and businesses organised.  But because politicians speak with forked tongues, and the Coalition has now occupied three different positions on the subject since December last year, the evolution of the changes needs to be traced to understand their significance.  Under Labor’s FoFA law all forms of so-called “conflicted remuneration”, including sales bonuses and commissions paid by employers or third-party product suppliers to individuals (eg, a bank teller, stockbroker, or planner) selling products to clients, were banned unconditionally for all products except loans, deposits, and insurance. This ban applied to situations where...
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