BFCSA Blog

Where is the Australian Justice System?  ASIC snooze at the Wheel of Fortune.  ASIC snooze and you loose. Wait until the Police find out their parents have been taken for a mortgage ride. Yes indeed there are members of the State Police Forces who have had to seek help from us.   Others have asked what the pitfalls are........Police, Teachers, Nurses have been targeted by Lenders.   Bank of America may face civil charges 2 August 2013 AAP THE SEC is set to lay charges against Bank of America over mortgage-related matters, and against Merrill Lynch over a collateralised debt obligation probe.   The bank said in a regulatory filing on Thursday that the US Department of Justice told the company that it intends to file civil charges related to one or two jumbo-prime securitisations. The Securities and Exchange Commission (SEC) is also considering filing civil charges against Merrill Lynch tied to a collateralised debt obligation investigation....

omment is free 'In corrupt systems, decent people have two options: conform or be crushed' According to Vince Cable, the emergence of a new breed of 'decent' bankers will guard against further financial outrages. But until we recognise that the system itself is flawed, banks will go on turning ordinary workers into shameless shysters and get-rich-quick merchants Share150   Email Fintan O'Toole The Observer, Saturday 30 June 2012 21.00 BST Jump to comments (85) Allied Irish Bank, where whistle-blowers were either dismissed or marginalised. Photograph: Peter Morrison/AP Spivs! Wideboys! Riverboat gamblers! Snakeoil salesmen! Calling the shysters by their proper names is satisfying – and it may be the only satisfaction the public will get. But it is also, oddly enough, rather naive. For it assumes that better, more decent people wouldn't end up manipulating interest rates or mis-selling financial products. All the evidence from the many scandals of recent years is that...

For years Gadens have had the lion's share of the action in the Australian Mortgage Fraud. It is a matter of public record that they have defended the perpetrators of Fraud, orchestrated the bullying and repeated efforts to intimidate blameless and innocent home owners and witnesses to the Court hearings all in the name of "Justice" - and been allowed to get away with it by some of the "bank blinded" Australian judiciary! If you'd like a few samples of Gadens' handiwork on behalf of NAB, Bank West, Ing and others use the BFCSA blog search engine or see austlii.edu.au Gadens aren't the only lawyers willing to do this type of work.  After all this BANK SCAM has been going on for years under the watchful eye of both major Australian Political Parties. All borrowers and BFCSA members should check their documentation and report in with a list of all legal...

David Collyer was right. Denise's evidence and assertions are based in many years' research. There is no room for speculation in the black and white of her evidence. It's FRAUD. What is more it is intentional, premeditated and well organised systemic fraud. How can the regulators and the politicians deny the facts and keep their credibility? They can't. Further evidence has been revealed since the initial hearing at the Senate Inquiry. It underlines the even greater need for a Royal Commission. The Australian public want the truth. Investors want the truth. Borrowers want the truth. Our international reputation is also under scrutiny. Surely it is part of the job description of any chief regulator or parliamentary representative to supply informed, well-researched answers not off the cuff comments based on assumptions and their own opinion in order to protect their jobs! They are paid handsomely to supervise and ensure the stability our...

Essential consumer warnings about borrowing from Australian lenders. Protect your rights, your home and your peace of mind. http://www.bfcsa.com.au/index.php/resources/need-a-loan (Check tab: Resources: Need a Loan?)...

0 0 0 BANKS MAKE LOANS DISAPPEAR.   ADMISSIONS OF GUILT  in my view   COMMONWEALTH BANK AUSTRALIA, (CBA),  MACQUARIE BANK,   NAB.  STORM FINANCIAL SCAM.   Allegedly, either STORM FINANCIAL or the BANKS changed their financial records. They then closed their offices in Brisbane & the Gold Coast, allegedly putting the rest of their money into Challenger Annuities.     Pam Longmore of Broadbeach, Gold Coast, Qld,  was yet another victim of this scam.     Pam had 2 or 3 Loans that she didn’t even know the details of, through Macquarie Bank, NAB, & the CBA.  She was 63 yrs old & still had to work full time just to make ends meet. Pam was incredibly demoralised.  Distraught.   After talking to a friend of hers about her situation, the friend introduced her to a Financial Advisor. They had meetings at Pam’s home. The Financial Advisor, Robyn Cleeland, allegedly claimed that...