From Dale McCahon
All BFCSA Members are end users of the FOS and CIO OMBUDSMAN's system. We KNOW FOS and CIO did not assist the customer in any way shape or form.
If they intend to change I believe the starting point should be to contact all the long suffering victims return them to the position they would have been in if they had not met their Bank. The promise of FOS to deliver that verdict was utterly false as we all discovered.
The Banking Code of Conduct and was handed down on the 22nd of June 2012 by the High Court of Australia. Each CEO signs that document/pledge each year and then promptly ignores the content of the Code and even the substance of the complaints re bank generated mortgage fraud. FOS and CIO follow suit and therefore cover up this $300 billion systemic bank fraud.
Once all these grievances have been settled by mutual agreement not "take it or leave it" bullying tactics, the Ombudsmen and their new departments should have laid down very clear guidelines for conduct and held the CEOs responsible for any acts that are outside the law. Did that basic tenet happen? No it did not. The banks approved even more toxic mortgage loans.
Remember the buck stops at the top and that is why these Bankster CEOs are on the big bucks.
The Ombudsmen have proven to be mere puppets of the banks. This entire mess has been created for themselves, totally born of greed and now it's time for bankers to pay their penance. If Banks are so scared of a Royal Commission, as appears obvious to everyone by now, then some self motivated acts of decency toward customers, by providing IMMEDIATE "grievance assistance," must be placed centre stage.
Without these changes being made nothing can move forward therefore the calls for a Royal Commission into Banking and Finance with a very wide terms of reference will not only continue but will escalate. More and more people are learning from BFCSA Members how to discover the fraud in their own mortgage loans, two years before the implosion date of five years.
Everyone with an Interest Only Mortgage needs to join BFCSA and find out what happened to YOUR LOAN and why internal bank fraud became an epidemic involving $300 billion worth of mortgage lending.