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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 Libor Scandals
http://www.businessspectator.com.au/news/2014/7/28/financial-services/lloyds-pay-us370m-libor-fine Lloyds to pay $US370m Libor fine 28 Jul, 10:47 PM US and UK authorities on Monday imposed roughly $370 million of fines on Lloyds Banking Group PLC for attempting to rig benchmark interest rates. The British bank becomes the seventh financial institution to strike a deal with US and UK authorities who are conducting a long running probe into allegations of widespread attempts to manipulate the London interbank offered rate, or Libor, and other widely used interest-rate benchmarks. The US Justice Department, the Commodity Futures Trading Commission and the UK's Financial Conduct Authority said that employees of Lloyds, which is 25 per cent owned by the British government, tried to manipulate benchmark rates to benefit the bank's financial position. Lloyds said in a statement: "The group condemns the actions of the individuals responsible for the conduct in question, which it regards as totally unacceptable and unrepresentative of the cultural changes...
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 http://senecabanking.co.uk/2014/05/barclays-create-bad-bank-in-order-to-house-non-core-assets/  Barclays Create ‘Bad Bank’ In Order to House Non-Core Assets  As Barclays continue to revive their investment banking sector, officials have now decided that it is time to create a ‘Bad Bank’ which will deal with all non-core assets so that advisors can concentrate on relevant and important matters and give them the attention that they deserve without being inundated with requests and complaints from disgruntled customers. This particular unit has been designed to deal with businesses that the bank is intending to sell on or wind down, as they are perceived as inconvenient and unnecessary. Included in this sector will be the vast majority of its commodities operation as they do not want to continue with this venture; so are hoping to terminate these services as soon as possible.  This move could result in up to 8,000 jobs worldwide and has caused one of the most senior banking officials...
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more   http://www.americanbanker.com/bankthink/morning-scan-m-and-a-double-dipping-foreign-banks-flock-to-fed-1066101-1.html Morning Scan: M&A Double Dipping; Foreign Banks Flock to Fed by Heather Landy MAR 10, 2014 Receiving Wide Coverage ... Both Sides Now: If the folks in mergers and acquisitions look discouraged today, it's probably more than a bad case of the Mondays. A Delaware judge hearing a case about the conflicts of interest that possibly arise when bankers advise both the buyer and seller in the same deal has found that RBC acted improperly when its bankers tried getting in on both sides of a 2011 merger in the health care sector. While there's been no ruling yet on damages, the Journal says the case already is a big blow to banks, while the FT more demurely warns of "far-reaching consequences." Wall Street Journal, Financial Times Wall Street Journal You know that $2.2 trillion or so that banks have parked at the Federal Reserve? Curiously, close to...
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Will Australian Banking Scandals Rock the Economy in 2013? Written on 26 November 2012 by Dr. Alex Cowie Port Philip Publishing  http://www.moneymorning.com.au/20121126/will-australian-banking-scandals-rock-the-economy-in-2013.html 2012 has seen an impressive list of global banking scandals. The problem is that even as they get more outrageous, the market becomes more desensitised.   Apathy reigns. The real bombshell this year was the LIBOR scandal.  Some of the world’s biggest banks got caught with their pants down,manipulating the LIBOR rate. If you think that sounds boring, then know that it underpins derivatives worth over $300 TRILLION. Tweaking LIBOR a few basis points here and there can pay for more than lunch. This was a scandal so huge that it involved some of the biggest names in the banking game: Barclays, HSBC, Deutsche Bank, UBS, Credit Suisse, Soc Gen, Citibank, JP Morgan, and Bank of America, amongst many others. So global banking titans formed a cartel to deceive the...
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