Update · 75% of Australians Say Yes to Royal Commission into Bad Banking System

See also: Call for Royal Commission Into Australian Banking

75% of Australians say yes to Royal Commission into Bad Banking System

Denise Brailey

Dowerin, Australia

20 APR 2016 — Its is clear that Australians have all been impacted in some form by bad banking practices. Australian Bankers have been acting as a Cartel of 17 to the ruinous financial rip-offs perpetrated on their own customers. Three decades of de-regulation has caused over $200 billion of losses re developer/bank driven ponzi scams.

Another $300 billion is caught up in unaffordable, unverified Ponzi Financing scams and sub prime lending. The 17 Mobsters are in control of the entire fraud, enveloping the construction, real estate and banking sectors. The PM is an ex banker with Goldman Sachs.

Our Corporate Regulatory Chief is an ex Banker with Societe Generale. The guy who was appointed to the last Financial Inquiry was one of the specific ex Bankers with Commonwealth Bank. The more the Government denies the people a Royal Commission the angrier the ordinary Australians are.

As a consumer group www.bfcsa.com.au we have more members needing help as ripped off borrowers, than there are politicians in Canberra. The PM is in denial as if in a timewarp. The Leader of the Opposition Bill Shorten judged the mood of the people and there will be plenty of swing voting at the next election.

Bring It On! We will achieve the Royal Commission we have all lobbied for many years.

 

Australian Financial Services Hall Of Shame

http://www.bfcsa.com.au/index.php/scams/hall-of-shame

HallOFShame1 HallOFShame2

Demands for Royal Commission Into Australian Banking Sector

Everyone should have an interest in the future of this companies if the evidence is clear now that Banks were committing grand larceny which affect all citizens in Australia.

The Banking Cartel and their CONTROL FRAUDS have used the property market as the vehicle to pump money into to inflate the value of their own ill-gotten assets.  This means in one generation have currently CUT OFF all young people from buying a home – ever.  The same as has occurred in Greece, next the jobs go, the homes go and then an entire generation of 20 – 28 year olds are homeless and jobless.  No-one realises we did the same things – our banks are driving us down the same path.

THERE HAS TO BE A ROYAL COMMISSION.

An easy way to urgently gain a Royal Commission and have all witnesses brought in for questioning and all documents to be discovered.  It’s the most POWERFUL thing that you will ever do to either save your home OR demand compensation for your loss.

CIRCULATE TO EVERYONE YOU KNOW TO DEMAND Royal Commission into the Four Major Banks and all other lenders

Tour collective BFCSA petition on change.org

https://www.change.org/p/mr-david-murray-chairman-of-the-financial-system-inquiry-recommend-an-urgent-royal-commission-into-australian-banks-the-regulators-and-the-financial-product-sellers#

Featured Articles:

BFCSA: Cruel CBA – no transparency with customers suffering three month wait for complaint/info pack

BFCSA: Australians in Poverty affecting 600,000 children. Banks and Dirty Low Docs to Blame

BFCSA: Banker faces up to 10 years in Prison – that’s what we want to hear in Australia

BFCSA: Tony and Joe’s DEBT Disaster – no we cannot afford a war. We have to fix the Monster Banks first

Australian Securities and Investment Commission – Senate Hearing Committee

Australian Parliament:   Senate Hearing Committee into the performance of corporate regulator ASIC - Australian Securities and Investment Commission

Held at Australian Parliament House over 3 days - Links to Schedule

(Transcripts will be added as they become available)

Public Hearings

SENATE ECONOMICS REFERENCES COMMITTEE DAY 1

The performance of the Australian Securities and Investments Commission

PUBLIC HEARING Wednesday 19 February 2014  Program Day 1

Corinthian Room, Sydney Masonic Conference & Function Centre (SMC), 66 Goulburn St Sydney

Time

Witness

9.00 am

Australian Securities and Investments Commission
(Submission 45,  45_supp 45_supp245_supp2_correction45_supp3 )

Mr Greg Medcraft, Chairman
Mr Peter Kell, Deputy Chairman
Mr John Price, Commissioner

Mr Greg Tanzer, Commissioner
Ms Cathie Armour, Commissioner
Mr Greg Kirk, Senior Executive Leader, Strategy Group
Mr Warren Day, Senior Executive Leader Stakeholder Services and Regional Commissioner for Victoria
Mr Chris Savundra, Senior Executive Leader, Markets Enforcement

10.30 am

Break

10.45 am

Continued:

Australian Securities and Investments Commission

Mr Greg Medcraft, Chairman

12.00 pm

Institute of Chartered Accountants Australia (Submission 203) Mr Lee White FCA, Chief Executive Officer

CPA Australia (Submission 209)
Mr Alex Malley FCPA, Chief Executive Officer Mr Paul Drum, Head of Policy

1.00 pm

Lunch

1.45 pm

Academic panel:

Professor Dimity Kingsford Smith (Submission 153)
Professor Justin O’Brien and Dr George Gilligan (Submission 121) Dr Suzanne Le Mire and A/Prof David Brown (Submission 152)

3.15 pm

Community and Public Sector Union (Submission 125) Mr Alistair Waters, Deputy National President
Mr David Mawson, CPSU ASIC Workplace Delegate

3.55 pm

Break

4.05 pm

Financial Planning Association of Australia (Submission 234) Mr Mark Rantall, Chief Executive Officer
Mr Dante De Gori, General Manager Policy and Conduct
Mr John Bacon, General Manager, Professional Standards

Association of Financial Advisers (Submission 117) Mr Brad Fox, Chief Executive Officer
Mr Marc Bineham, Vice President

5.00 pm

Adjournment

Committee Chair: Senator Mark Bishop
PO Box 6100, Parliament House Canberra ACT 2600 Tel: +61 2 6277 3540 Fax: +61 2 6277 5719

Email: economics.sen@aph.gov.au Internet: www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics

SENATE ECONOMICS REFERENCES COMMITTEE DAY 2

The performance of the Australian Securities and Investments Commission

PUBLIC HEARING Thursday 20 February 2014 Program Day 2

Corinthian Room, Sydney Masonic Conference & Function Centre (SMC), 66 Goulburn St Sydney

Time

Witness  

9.00 am

Law Council of Australia (Submission 150)
Mr John Keeves, Chairman, Business Law Section
Mr Bruce Dyer, Member of the Corporations Committee, Business Law Section

10.00 am

Commonwealth Ombudsman (Submission 188)
Mr Colin Neave, Ombudsman

11.00 am

Break

11.15 am

Financial Ombudsman Service (Submission 193)
Mr Shane Tregillis, Chief Ombudsman
Mr Philip Field, Lead Ombudsman, Banking and Finance

Credit Ombudsman Service

Mr Raj Venga, Chief Executive Officer and Ombudsman Mr Scott Goodison, Head of Dispute Resolution
Ms Allison Dam, Head of Policy and Compliance

12.15 pm

Lunch

1.00 pm

Australian Institute of Superannuation Trustees (Submission 136)
Mr David Haynes, Executive Manager, Policy and Research
Ms Karen Volpato, Senior Policy Adviser

Industry Super Australia (Submission 201)
Ms Robbie Campo

2.00 pm

Consumer Action Law Centre (Submission 120_att,  120)
Mr Gerard Brody, Chief Executive Officer (possibly via teleconference)

Consumer Credit Legal Centre (NSW) Inc (Submission 194)
Ms Karen Cox, Coordinator

3.00 pm

Break

3.15 pm

Banking and Finance Consumers Support Association (Inc) (Submission 156_supp1,  156)
Ms Denise Brailey

4.15 pm

Adjournment

4.30 pm

Public hearing for the inquiry: Ticket scalping in Australia (until 5.30pm)

THE SENATE

SENATE ECONOMICS REFERENCES COMMITTEE

The performance of the Australian Securities and Investments Commission

PUBLIC HEARING Friday 21 February 2014 Day 3 Program Day 3

Committee Room 2S1, Parliament House Canberra

Time

Witness

10.00 am

Mr Niall Coburn (Submission 282)

10.45 am

Break

11.00 am

Professor Robert Baxt AO (Submission 189)

12.00 pm

Department of the Treasury

Ms Dianne Brown, Acting General Manager, Corporations and Capital Markets Division
Mr Bede Fraser, Manager, Intermediaries and Regulatory Powers Unit, Retail Investor Division

1.00 pm

Adjournment

1.45 pm

Public hearing for the inquiry: Tax Laws Amendment (Research and Development) Bill 2013 (until 4pm)