Abolish AFCA and set up a credible independent financial institution authority

The issue

AFCA were actually secretly created by the banks and run a protection scam for the banks, superannuation and insurance companies. They almost always rule in favour of the banks, superannuation funds and insurance companies and consumers have no chance of winning when they refer their complaints to AFCA. This puts the whole intention of the banking royal commission into the misconduct of the banking, superannuation and insurance industry to shame. The royal commissioner, The Hon. Kenneth Madison Hayne himself has confirmed that nothing has changed in the banking industry seven years after the commission findings. In fact it has become even worse. ASIC have also turned a blind eye and refuse to help people who have approached them with the injustices of AFCA. Thousands of complainants have been turned away with nonsense decisions by AFCA which contravene High Court rulings on the responsibilities of banks when providing financial advice. I have experienced this first hand when I was misled by a bank which provided me with personal financial advice where I lost a significant amount of my life savings. I have read other similar rulings from AFCA who have failed complainants with legitimate complaints against banks. It is no wonder that banks enthusiastically encourage complainants to lodge claims with AFCA. AFCA are funded by the banks, super funds and insurance companies through a subscription model and employ ex-banking staff including a bloated executive team. Most of their ombudsmen are former banking industry legal counsels and will always be loyal to their former employers. If you don't believe me look up their professional profiles on LinkedIn. How can this be considered an independent authority? The mere suggestion that they are independent is ludicrous and they are playing people for fools.

If AFCA are allowed to continue, their loyal subscribers, the banks and superannuation funds and the insurance companies will continue to lie and cheat customers out of their life savings and the insurance premiums they have paid free of any obligations to act in an ethical manner. Even the royal commissioner (Ken Hayne) has confirmed that nothing has improved in the way banks conduct their activities. In fact it has become worse than ever because they have the "protection racket" of AFCA.

I would like to lobby the Federal Government and the Australian Senate to launch a follow up enquiry into the misconduct by banks, superannuation funds, insurance companies, AFCA and ASIC seven years after the commissioner presented his findings by publishing his report. Why has no one listened to the thousands of people who have been ripped off by the banks since the royal commission? Why haven't the banks learned from their misconduct? What is the connection between politicians and the banks, especially when they retire from politics? Do we need to have the National Anti-Corruption Commission investigate the link between these Federal Government authorities and why politicians wont act to investigate why AFCA has failed in its duties?

I only need at least 50 signatures to lobby the Federal Government but 30,000 or more would send a strong message that our politicians need to address this issue very seriously, since ten times this amount of people are being ripped off every year by the banks, super funds and insurance companies. I intend to approach mainly the uncorrupted politicians who don't have the banks, insurance companies and superannuation funds in their pockets such as Senator Malcolm Roberts from One Nation and Senator Gerard Rennick. 

Please join me in my petition since if we don't lobby the government the banks and the superannuation funds and the insurance companies will continue to rort and rip off customers with their unethical and illegal practices and the taxpayer funded royal commission would have been all in vain.

Watch this Youtube video on the conspiracy between the banks, fake AFCA, ASIC and the Government to steal money from bank customers:

Whistleblower exposes the truth about AFCA

https://www.youtube.com/watch?v=Zw5CZ8-n2Ws

We have also set up a Facebook Action Group calling for a Senate Enquiry into AFCA and the bank regulatory system so that AFCA can be exposed for what it is (deceptive authority run by the banks) and abolished so that a legitimate authority may be established to actually support customer rights and stop the banking theft as recommended by the royal commission: 

https://www.facebook.com/groups/1577467686148080

We need to speak up and take real action to make a change and not just have another customer support group that does nothing like some of the other petitions and Facebook pages. 

P.S. Anyone who had invested in the Citigroup structured products where ASIC had ordered Citigroup to refund any losses to customers and you have tried to seek a remedy through a complaint to AFCA please contact me because I would like to set up a class action group to recover losses from Citigroup (now NAB) for misleading financial advice regarding these products. AFCA have done nothing for these complainants.

IMPORTANT: Please DO NOT contribute any money to this petition. Our action group does not get any of the funds. Change.org gets all your contributions and there is no benefit to our petition. All we ask is for your free signature and support so that we can try to make a difference for you.

 

174

The issue

AFCA were actually secretly created by the banks and run a protection scam for the banks, superannuation and insurance companies. They almost always rule in favour of the banks, superannuation funds and insurance companies and consumers have no chance of winning when they refer their complaints to AFCA. This puts the whole intention of the banking royal commission into the misconduct of the banking, superannuation and insurance industry to shame. The royal commissioner, The Hon. Kenneth Madison Hayne himself has confirmed that nothing has changed in the banking industry seven years after the commission findings. In fact it has become even worse. ASIC have also turned a blind eye and refuse to help people who have approached them with the injustices of AFCA. Thousands of complainants have been turned away with nonsense decisions by AFCA which contravene High Court rulings on the responsibilities of banks when providing financial advice. I have experienced this first hand when I was misled by a bank which provided me with personal financial advice where I lost a significant amount of my life savings. I have read other similar rulings from AFCA who have failed complainants with legitimate complaints against banks. It is no wonder that banks enthusiastically encourage complainants to lodge claims with AFCA. AFCA are funded by the banks, super funds and insurance companies through a subscription model and employ ex-banking staff including a bloated executive team. Most of their ombudsmen are former banking industry legal counsels and will always be loyal to their former employers. If you don't believe me look up their professional profiles on LinkedIn. How can this be considered an independent authority? The mere suggestion that they are independent is ludicrous and they are playing people for fools.

If AFCA are allowed to continue, their loyal subscribers, the banks and superannuation funds and the insurance companies will continue to lie and cheat customers out of their life savings and the insurance premiums they have paid free of any obligations to act in an ethical manner. Even the royal commissioner (Ken Hayne) has confirmed that nothing has improved in the way banks conduct their activities. In fact it has become worse than ever because they have the "protection racket" of AFCA.

I would like to lobby the Federal Government and the Australian Senate to launch a follow up enquiry into the misconduct by banks, superannuation funds, insurance companies, AFCA and ASIC seven years after the commissioner presented his findings by publishing his report. Why has no one listened to the thousands of people who have been ripped off by the banks since the royal commission? Why haven't the banks learned from their misconduct? What is the connection between politicians and the banks, especially when they retire from politics? Do we need to have the National Anti-Corruption Commission investigate the link between these Federal Government authorities and why politicians wont act to investigate why AFCA has failed in its duties?

I only need at least 50 signatures to lobby the Federal Government but 30,000 or more would send a strong message that our politicians need to address this issue very seriously, since ten times this amount of people are being ripped off every year by the banks, super funds and insurance companies. I intend to approach mainly the uncorrupted politicians who don't have the banks, insurance companies and superannuation funds in their pockets such as Senator Malcolm Roberts from One Nation and Senator Gerard Rennick. 

Please join me in my petition since if we don't lobby the government the banks and the superannuation funds and the insurance companies will continue to rort and rip off customers with their unethical and illegal practices and the taxpayer funded royal commission would have been all in vain.

Watch this Youtube video on the conspiracy between the banks, fake AFCA, ASIC and the Government to steal money from bank customers:

Whistleblower exposes the truth about AFCA

https://www.youtube.com/watch?v=Zw5CZ8-n2Ws

We have also set up a Facebook Action Group calling for a Senate Enquiry into AFCA and the bank regulatory system so that AFCA can be exposed for what it is (deceptive authority run by the banks) and abolished so that a legitimate authority may be established to actually support customer rights and stop the banking theft as recommended by the royal commission: 

https://www.facebook.com/groups/1577467686148080

We need to speak up and take real action to make a change and not just have another customer support group that does nothing like some of the other petitions and Facebook pages. 

P.S. Anyone who had invested in the Citigroup structured products where ASIC had ordered Citigroup to refund any losses to customers and you have tried to seek a remedy through a complaint to AFCA please contact me because I would like to set up a class action group to recover losses from Citigroup (now NAB) for misleading financial advice regarding these products. AFCA have done nothing for these complainants.

IMPORTANT: Please DO NOT contribute any money to this petition. Our action group does not get any of the funds. Change.org gets all your contributions and there is no benefit to our petition. All we ask is for your free signature and support so that we can try to make a difference for you.

 

Support now

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The Decision Makers

Senator Malcolm Roberts
Senator Malcolm Roberts
One Nation Senator
Senator Pauline Hanson
Senator Pauline Hanson
Australian Senator for Queensland
National Anti-Corruption Commission
National Anti-Corruption Commission
National Anti-Corruption Commission
Senator Jenny McAllister
Senator Jenny McAllister
Australian Senator for NSW
Petition updates