Bank Reform Now - Media Information Kit

Bank Reform Now - Media Kit

1. Founder & CEO: Dr Peter Brandson

2. Contact Details:
     Email: info@bankreformnow.com.au
    Website: www.bankreformnow.com.au

3. Background Story:  In 2004 and 2005 the National Australia Bank maladministered loans to a member of Dr Brandson’s family. The loan recipient clearly did not have the assets or income to manage the loans given. NAB representatives created falsified and fraudulent Loan Application Forms to give an unjustifiable and inappropriate loan. The NAB had clearly engaged in unconscionable predatory lending. The consequences of this were devastating to the family but enabled NAB staff to meet onerous sales targets, earn bonuses and commissions - as well as  improve the bank's bottom-line.

In 2007 NAB tried to trick and coerce the family into being illegally evicted from the family home. This was around the time of the Global Financial Crisis (GFC). NAB and other banks were desperate to make their books look better so many people with loans were harassed in the same way. It turns out that at the time NAB was in trouble and required billions of dollars from the US Federal Reserve to avoid collapse. This of course was hushed up by the media, government and regulators.

Predatory lending is widespread – it is financially and emotionally crippling many people and families. The government and its regulatory authorities – such as ASIC and APRA are not effectively doing the job required to prevent corrupt banking practices. There are many aspects of bank behaviour which are harming the way Australians live. The interaction between poor government policies and cruel and illegal banking practices is in large part responsible for many people not being able to get the right balance between work and family.

The system is structured to systematically transfer huge amounts of wealth away from the middle class to the finance sector - much of which is international. It is also responsible for the high cost of living and the difficulties people face in their attempt to save for a comfortable retirement. In other words it is a main contributor to the hardship elderly Australians endure after a lifetime of hard work. The system also makes it very hard for young people to save for and purchase their own home.

After trying to settle the dispute with NAB privately Dr Brandson realised that the bank had a well organised system in place to enable it to commit these types of crimes and then leave disgruntled clients suffering with no genuine assistance. This experience and the research he carried out - which found many people suffering even more than his family - prompted him to begin a people powered campaign to force change on the banks - with or without government help. Bank Reform Now will build and lead a team of educated, motivated and concerned citizens. We are committed to setting a very important precedent. This work will eventually lead to a fair, open and honest banking system. Right now many of us cannot even imagine how different our nation and our lives could be once genuine reforms are put in place.

4. The 2013 Senate Inquiry into ASIC:  The Australian Securities and Investments Commission is supposed to make sure companies such as banks behave legally. It has failed and the inquiry was given many submissions - including from ASIC whistle-blowers - that clearly show this to be the case. Dr Brandson provided two submissions which listed decades of NAB predatory business practices. In addition his submission detailed – in correspondence with then NAB CEO Cameron Clyne - how the bank behaved in his family's case. The evidence that he had collected proved the case against NAB but Mr Clyne and his assistants were suffering the from  same complaint found among all upper echelon bankers -  3D Syndrome: deny, deceive, deflect. Many bank victims have experienced this as part of the runaround they are given when they are looking for answers.

5. Bank Reform Now: Key elements of the campaign: Dr Brandson is seeking help from the community. A very important part of the campaign is to collect the stories of people who have also been victims of predatory and unconscionable banking practices - and not just victims of NAB. These can be uploaded to the website 24/7.

BRN is also asking current and previous bank employees who have witnessed loan application fraud or other evidence of bank malpractice to send in their stories. The evidence collected may be used in a future class action against NAB and other banks involved in criminal behaviour.

We are encouraging people to contact their bank and get their loan application forms. They should very carefully check the figures that the bank used to grant the loan. Banks have often falsified a borrower's income, assets and liabilities to deliberately profit from the provision of a loan that the client really could not afford.

The campaign aims to set this precedent: If a bank uses fraud against a client it must fully compensate that client back to the position that the client would be enjoying if the criminal bank action did not occur.

The precedent, once set, will force banks to operate legally and ethically. Bank Directors and CEOs would not allow illegal and corrupt banking practices if the bank faced real penalties for real crimes.

Contributions and well targeted action from supporters will be used to strongly encourage banks to contribute to a fund which will be used to set and apply the precedent in as many cases as funding allows. As soon as possible funds will also be used to assist with rural mental health services and programs. We hope to collect $20,000,000 within the first year of the campaign. The website has more details regarding the objectives and rationale for the campaign.

This is an issue that must be sorted out. The GFC was caused by bank malpractice and inappropriate lending. The system is not sustainable and will lead to more severe hardship. The government will not act in the interests of the people for a host of reasons. It is up to collective strong action from the people to force change. If the campaign is successful the government and the banks will be forced to change the way they do business.

6. NAB will be the first bank to feel the heat of the campaign because they have one of the worst reputations for predatory practices and dodgy business dealings. Other banks will very likely take note of NAB getting a dose of its own medicine and will modify their practices well before the campaign directs the full force of people power toward them. If we get the type of support the issue deserves we hope to include international banks at some stage - but we are aiming to clean up Australia first. UPDATE >> In October 2017 we decided to switch the Big Bank BANG to CBA see below for details.

This is the best opportunity ever given to people to make changes to the finance industry. The resulting changes will bring significant long term benefits to people, families and communities.

7. Bank Reform Now wants to use the power of public support to pressure the government into instigating a powerful, wide ranging Royal Commission into how the banks and finance system operates. In addition to thoroughly investigating and reforming how banks create credit we will be seeking appropriate laws and penalties for corporate criminals – this includes asset seizures (using proceeds of crime laws) and 20 year jail terms. This is the only way to change the corporate culture that causes so much suffering to the Australian people. In fact, this problem affects the whole world.

8. Immediate Action:  Supporters are asked to Register on our website. We aim to very quickly build up more members than all political parties combined. Our site may not manage more than 20,000 visitors at a time – so if there are delays visit again until you can register. We are also encouraging everyone to spread the word via Facebook, Twitter, email and the old fashioned way ...... chatting to your mates.

NEWSFLASH

#TTTRally - the biggest rally ever held in Australia. Monday November 21 Parliament House Canberra and beyond - people are gathering to Tell the Truth to Turnbull - We will: Expose the lies - Stop the Corruption - Deliver Justice - More >>> HERE

Additional Resources:

Website -    www.bankreformnow.com.au
Facebook -  www.facebook.com/bankreformnow
Twitter -     https://twitter.com/BankReformNow
YouTube -   https://www.youtube.com/user/BankReform
Bank Reform Now - Draft Terms Of Reference - Royal Commission