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.
One of our members has already picked up this gem from from KIRK - ASIC on the stand for the Senate Hearings into ASIC.
Transformation- Posted on Friday, April 11, 2014
Did anyone pick this up during the Inquiry: KIRK: "One of the things we (ASIC) did towards the end of last year was to make sure that they made it unambiguously clear to the remaining people with contested claims that not only could they go to FOS to have it resolved but CFP would waive any jurisdictional limits in that process. Some of those problems are under limited jurisdiction or they are disputes about whether there had been a previous agreement and there was already a binding deed of release and such. We got them to clarify for all of those customers that they were willing to waive those things." Does this mean that FOS waived the jurisdiction...
My files are FULL of evidence from people with legitimate claims of Maladministration in Lending amongst the Major Banks - registered as FOS members. No-one better tell our members there is not a problem in Australia. At least BFCSA was on the money when it told all members to demand the FAXED copy of the Loan Application form.
A key INDICATOR OF FRAUD IN THE BANKING sector materialised when NAB WESTPAC, ANZ and CBA started to SHRED DOCUMENTS. Yet the Australian Securities and Investment Commission bleated to Federal Parliament they could find no evidence of fraud!" Corrupt or incompetent? YOU be the judge.
ASIC hands out licences to FOS and COSL: the External "Dispute" Resolution Services (EDR's), controlled and funded by Banks. ASIC therefore say "we do not investigate consumer complaints!" No-one does. Fraud is being treated as a "dispute" and the fraud is supposed to be investigated by the lazy...
Treasurer Joe Hockey is not the only one with a close family member ripped off by Banks. There are others. We are planning a big contingent of people to Canberra in November. Every victim will want to be front row to hear Australian Securities and Investment Commission's lame duck excuses for seeing all and doing nothing. BFCSA voices will inspire the timid and embarrassed to also come forward. Anyone wish to arrange a bus from Sydney? Talk to me.
Dates have not been set as yet. We will keep you posted. Meanwhile FOS (Financial Ombudsman's Service) is closing files where loans were arranged in 2006 or earlier. Statute of Limitations can only apply from when people "were aware of the affability issue." FOS would not be able to get away with such nonsense in a court of law, but then this is a game to assist Banks..................... Statute of Limitations for...
One of our members has already picked up this gem from from KIRK - ASIC on the stand for the Senate Hearings into ASIC.
Transformation- Posted on Friday, April 11, 2014
Did anyone pick this up during the Inquiry: KIRK: "One of the things we (ASIC) did towards the end of last year was to make sure that they made it unambiguously clear to the remaining people with contested claims that not only could they go to FOS to have it resolved but CFP would waive any jurisdictional limits in that process. Some of those problems are under limited jurisdiction or they are disputes about whether there had been a previous agreement and there was already a binding deed of release and such. We got them to clarify for all of those customers that they were willing to waive those things." Does this mean that FOS waived the jurisdiction...
Here is another gem re FOS compensation limits waived page 17 Mr Berrill: The targeting was so systematic and so measured—but act
