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ROYAL COMMISSION into Australian Banks, the Regulators ASIC, APRA and all subsidiaries and joint partners

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Over $100 billion worth of loans have been approved by computer and intentionally UNVERIFIED.  From the last few years research, there is FRAUD on all loan application forms.  I am President of BFCSA - Banking and Finance Consumers Support Association (Inc).  No forms were given to the borrower at the point of signing.  Many contain forged signatures.  Credit Assessors ticked boxes to say they had met the borrowers.  This is false.  ARIPs Asset Rich and Income Poor older people were targeted.  The Banks were after their only asset - their home. Non Banks were also permitted to follow the same model and sell fraudulent loans.  The investments suggested are linked to the property market and economists concerned with the affect of Property Bubbles on the economy.  Over 200,000 pensioners and low income people are affected and dealt mostly with the Four Major Banks who enjoy 85 % of the admitted Sub Prime Mortgage market. Bankers are now threatening to repossess homes as the "buffer monies" run out.  Less than six years ago, most of the victims owned their own homes and were debt free.

The average loan has jumped to $600,000 per applicant.

The Terms of Reference must be inclusive of retirees whow ere plundered of their life savings and suffered loss quantified at over $100 billion.  The Banking and Finance issues which caused the Financial System Inquiry cannot be fully investigated by the FSI.  Banks and non bank losses suffered by borrowers approved for unaffordable "interest only" 30 year loans is in excess of $200 billion and possible higher. APRA figures cannot be trusted.  APRA gives bankers an integrity that has not been earned. We see a total loss (and rising) of $300 billion suffered by retirees, pensioners, farmers, first home buyers and those on centrelink disability payments, Ex Patriots and New Zealand citizens across the ditch.   Shareholders blindly approve excessive bonuses and rewards to the Control Frauds. Anyone that had savings and/or a home of their own and virtually no debt has been a prime target of Control Frauds.

I am a criminologist and have been a well known consumer advocate for over 20 years.  This scandal has taken 10 years of research and includes my giving evidence to Federal Parliament via the Senate on two occasions.  We now know the loans were approved by a computer and the income exaggerations were engineered by the bankers in the form of a service calculator.  Sellers of the faulty products were told "do not show borrower".  Other nations are now in contact with BFCSA and saying me too!  No-one it seems received the Loan Application copy at point of signing.  Bankers are now telling Parliament "documents are missing." A Royal Commission into the Four Major Banks, their subsidiaries, the Non Banks, and all outer reaches of enabling the selling of faulty products via property and development that has led to over $100 billion in losses suffered by retirees in Collapsed Companies(agri and property).   A thorough probe is the only way forward to seek truth in lending and the interconnected property markets.  You can help us help all those affected by supporting our petition for fairness in banking and a complete inquiry to compel banks to hand over those files.  There are more victims than Bankers & their PARTNERS.  Collectively we can do this! We also have uncovered masses of losses within collapsed companies in Australia linked to the Major Banks in terms of facilities to unworthy developers creating massive and often hidden PONZI structures of greed and corruption.   These people are the Control Frauds.  As a Nation we cannot have any trust or confidence in the banking and finance sector until all victims have a chance to lay their documents out on the table of a Royal Commissioner with high level of integrity such as an ex High Court Judge and not one associated with these Bankers and their Promoters.  There has to be a wide Terms of Reference to effectively clean up this sector.  A half job will be pointless.  We are the people and we say what goes on in our country. Ms Denise L Brailey



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