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TOPIC: Jennie Paluka says "report McGarvie to IBAC"

Jennie's boss from APRA in the sites 2 weeks 3 hours ago #4129

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If you are a paid up member of BFCSA are three snippets of what you receive as a newsletter. You cannot afford to miss out:

Our Next Battle will be compensation cases and class actions. This can only happen when Labor holds #ALPBankRCmk2 Documents lawyers need are to be discovered in the dungeons of ASIC and APRA. Neoliberalism follower John Howard – turned consumer protection into a watered down older version of BUYER BEWARE and why Major Banks were given the GREEN LIGHT for Low Docs which are sold at the rate of 80% of their Loan Books since 1999. APRA wrote a tell-all 9 page document in 2003 explaining the plan, put together by Howard, Costello and Turnbull (Mr Goldman Sachs) between 1999 – 2000 and explained in a full 365 page report in 2003. My researcher Gladys and I have been searching for all associated records of what took place during the Howard years.

“APRA concerns re Low Docs, that since the borrower does not provide income details and lenders do not verify incomes, these loans DO NOT COMPLY with the AGN.” Banks are relying on Broker Valuations. Ie breaches everywhere against prudential standards: APS 231 – outsourcing. “APRA considers that the bank itself MUST BE RESPONSIBLE for deciding the criteria to be used in making the decision to lend.”

THE MORAL HAZARD: Buyer Beware or Consumer Protection. DO WE THE PEOPLE allow banks to continue on “as normal thieves in suits” and permit asset stripping run by criminal Cartels OR do we clean up the banking industry and break up the Banking Cartel in Australia?? BAD BANKING will be a massive election issue as Labor recognised and acted immediately in April 2016. The male dominated Liberals realised that public exposure of bankers’ criminal activities would mean the bank engineered property bubble will burst if the Government ordered banks to stop selling LOW DOCS and stop asset-stripping from ARIPs. Bank Robbers are no longer those who hold up a bank for a bag of cash: they are the CEO’s of the Major Banks and their political cronies.

So what went wrong at APRA???
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Terror Finance, Bank Backroom Evidence 1 week 3 days ago #4135

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CBA’s confession is just one of dozens released on Wednesday in a document dump that includes 96 companies, among them the big four banks, insurers such as QBE and Swiss Re, wealth management firms such as AMP and IOOF, superannuation funds including the Telstra staff fund, UniSuper, credit unions, professional associations, stockbrokers such as Bell Potter, and even security and cash handling company Chubb.
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Elle Macpherson graces Derby Day
Elise Pfeiffer

The admissions were mostly delivered by a January 29 deadline and helped guide six rounds of hearings that have sent shockwaves through the financial services industry, regulators and the wider community.

financialservices.royalcommission.gov.au...initial-request.aspx
Andrew White
Associate Editor
2:03PM November 7, 2018
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Commonwealth Bank of Australia identified 17 major instances of misconduct and breaches of community standards among admissions from across the financial services industry when it was demanded by the royal commission ahead of this year’s hearings.

The bank detailed its wrong doings and shortcomings from Storm Financial through to financial advice, foreign exchange trading and anti-money laundering terrorism financing in a 70-page document released by the commission Wednesday ahead of this months final round of hearings.

CBA’s confession is just one of dozens released on Wednesday in a document dump that includes 96 companies, among them the big four banks, insurers such as QBE and Swiss Re, wealth management firms such as AMP and IOOF, superannuation funds including the Telstra staff fund, UniSuper, credit unions, professional associations, stockbrokers such as Bell Potter, and even security and cash handling company Chubb.
Read Next

Elle Macpherson graces Derby Day
Elise Pfeiffer

The admissions were mostly delivered by a January 29 deadline and helped guide six rounds of hearings that have sent shockwaves through the financial services industry, regulators and the wider community.
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