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 ATM FIGHTBACK CAMPAIGN: Now everyone can fight back - why not a few sticky notes on ATMs: whenever you visit an ATM, stick this message on the side: MORTGAGE HOLDERS Ask your bank for your copy of faxed LOAN APPLICATION FORM. See if there is FRAUD? There will be. If yes visit www.bfcsa.com.au and we will tell you what to do next.
The point is we have less than 25 licensed banks here and a number of non bank HIGH RISK unregulated lenders. There are millions of us as mortgage holders. We have the numbers to demand change: change of bad banking practices; change of regulatory laziness. We can effect change. If there is a note re bill posting, we warn the first bright regulator try to take action against BFCSA: do you really want to hang BFCSA for posting warnings when you have allowed licensed banks to deliberately target...
The Australian Federal Government must approve a Royal Commission into the Banking And Finance Sector: here is why:
What we already know and have the proof of:-- The issue is a giant fraud involving between $57 Billion and $100 Billion.
We also KNOW that a massive percentage of fraudulent and imprudent loans are TOXIC FULL DOCS.....no brokers involved!
A devious business plan was devised and executed by the Banks 36 lenders including the Majors in the mid nineties here in Australia. Set patterns emerged and we have emails between the lenders staff and brokers which we have decided to load onto the LINKS in "Breaking News" at the top of the Home Page. See above.
· The victims are left with impossible lifetime of debt and they have painstakingly listed the discrepancies/fraud on their Loan Applications. These were fudged figures devised by a service calculator and not by the Broker/Planners. BFCSA...
Website:
www.ettamogah.com/
Phone:
(08) 9635 1777
About Ettamogah Pub Cunderdin WA:
Situated in the heart of the Wheatbelt region of Western Australia, Cunderdin is a small country town 156km east of Perth. This venue has quickly become a tourist must-see, and visitors cannot help but notice the large Ettamogah theme hotel and pub when driving through the town. Steeped in history, Cunderdin, like many small towns in the area, developed as a stop off town during the gold rush in the WA Goldfields.
The Pub that exposed the Banks' Crime of the Century................
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Missing pieces in a low-doc lending trail that shattered lives
Date June 3, 2013
(2)
Michael West
Business columnist
It was 9am Monday, on a late February day this year, when Denise Brailey arrived at the offices of the Australian Securities and Investments Commission in Perth for a meeting with Victorian Commissioner Warren Day and lawyer Robert Allen.
Allen and Day had flown from Melbourne to find out what information Brailey, a veteran campaigner for victims of financial fraud, had about the banks and their low-doc loans. Brailey claimed to have the last bits of the jigsaw puzzle which would prove that mortgage brokers were acting as agents of the banks in foisting loans on customers who could not afford them. Though interest rates had fallen to historic lows, there were family homes on the line, lives ruined.
This $57 billion, low-doc loan sector required urgent investigation, said Brailey, who...
Capturing politics was fairly easy: Too Big To Fail. Watch the big banks announce their profits again and yet they failed to pass on successive interest rate cuts to their customers. Instead Banks have been gouging customers whilst paying reasonable dividends to shareholders BUT they have been paying themselves and their very own Broker Channel Agencies and Agents and themselves spectacular BONUSES under the guise of being PRUDENT BANKERS.
By loading up the Nation (any nation) with TOXIC LOANS, they would then be in control of the political landscape. It was easy to convince Governments: "Prick our Bubble and we will burst yours!"
Nice one chaps, but we are on to you! It goes like this:-
STITCH UP ONE:
Bank Lawyer to Banker: "we can draw up Loan Applications that include a statutory declaration signed by borrowers to state: I the borrower Muggins Me do hereby understand I have read and fully agree with...
Note from BFCSA Members: You Sirs, at ABA and your wretched members have shown scant regard for S25 (now s 27)of the Bankers Code re loan “affordability.” You have shown scant regard for Australian Citizens and their financial well-being and scant regard for Criminal Law. Your members are stealing from investors, stealing from borrowers and also stealing from their Broker Agents. Like thieves in the night (and day) you have no friends except for major bankers who are benefiting from regulatory neglect. Your Members' cartels and conspiracies to defraud using the ZIPPY MODEL will be the undoing of our banking system. Truth will float to the surface - it always does and will show the reasons why you should all have been locked up 15 years ago. Let the unravelling begin.
Royal Commission into the Australian Banking System Urgently Required
ABA furious as ACCI compares banks to highway robbers
http://www.brokernews.com.au/news/breaking-news/aba-furious-as-acci-compares-banks-to-highway-robbers-148732.aspx
The...
THE ATM FIGHTBACK CAMPAIGN: Now everyone can fight back - why not a few sticky notes on ATMs: whenever you visit an ATM, stick this message on the side: MORTGAGE HOLDERS Ask your bank for your copy of faxed LOAN APPLICATION FORM. See if there is FRAUD? There will be. If yes visit www.bfcsa.com.au and we will tell you what to do next.
The point is we have less than 25 licensed banks here and a number of non bank HIGH RISK unregulated lenders. There are millions of us as mortgage holders. We have the numbers to demand change: change of bad banking practices; change of regulatory laziness. We can effect change. If there is a note re bill posting, we warn the first bright regulator try to take action against BFCSA: do you really want to hang BFCSA for posting warnings when you have allowed licensed banks to deliberately target...
how are we going with this campaign a few weeks later? How long did your post it notes stay up?
