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Banking News

Find the latest news and stories about banks caught out in illegal and corrupt activity from around the world.

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Westpac Scandal About To Blow

Dr Evan Jones has recently commented on several cases Bank Reform Now has been assisting with. The Hayes and Uebergang cases raise very serious issues for Westpac. CEO Brian Hartzer wasn't at the bank when these issues surfaced  but he can read. When Westpac was on the edge of collapse drastic measures were part of the rescue response. It's all been detailed in Hansard and then Senator Paul McLean's book Bankers And Bastards. The Westpac Letters scandal showed how the bank's board and their lawyers operated. We know they broke the law. We know they destroyed lives and businesses. Colin Uebergang suffered as a direct result. It's not good enough to pretend the bankers were saints in the 90s. We all now know the truth.

Three Westpac heads - Kelly, Maxsted, Hartzer
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Appalling Banking Will Be Fully Exposed

AFCA Chair Helen Coonan says community trust in the finance sector had been "shattered", with financial institutions causing "despair and hopelessness in many broken lives and broken businesses." If a key part of the economy profits from this type of crooked dealing with customers something is terribly wrong. If we have to remove one CEO after another so be it. Our sense of justice has not been tempered .... it's been honed razor sharp and it will be used to remove recalcitrant bankers, regulators and politicians. Justice has been delayed ..... it will  not be denied and it will be sweet.

The Australian Financial Complaints Authority is  making the right noises BUT it has built in limitations. Just like the Banking Code of Conduct and the Code Compliance monitoring apparatus it is rigged in favour of bankers. Victims of bank crimes have the deck stacked against them BUT Helen Coonan will serve a purpose that could help victims despite her hands being tied behind her back.

Justice wil not be denied
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Hayne Hamstrung From The Start

Nationals MP Barry O’Sullivan triggered the Royal Commission being called by Turnbull and Morrison but no politician was responsible. Bank reform was on the agenda thanks to brave whistleblowers and gutsy journalists like Jeff Morris and Adele Ferguson. Victims of bank misconduct and activists worked on the push to reform using everything they had. Social media, mainstream media and political contacts were worked tirelessly. The bankers saw what was coming and decided to put their inquiry up with their terms and their commissioner by using their Prime Minister and their Treasurer. Even though the Royal Commission was hobbled from the start it did serve a purpose... and everyone very well knows it covered up more than it exposed. This is an excerpt from Michael Roddan's book The People vs The Banks. The battle is still being waged and the people will win the war.

The RC we had to have
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Senate Inquiry Misses The Point

The Hayne RC and the Senate Access To Justice inquiry have dropped the ball. The only way banks can engage with clients in the heavy handed, deceptive, unconscionable and often criminal way that they do is thanks to a "justice" system that enables and allows them to get away with serious abuses. Any other business or individual that treated clients in the way the banks regularly do would see perpetrators fined and jailed. Yes - the abuses we have researched are that serious. Politicians and multiple inquires have been informed. So clearly the other protection required by banks is political. Therefore until people take political action to reform the system nothing will be achieved. Election 2019 is the time to take action.

Here we look at the weak recommendations from the Senate Access to Justice inquiry with contributions from the BRN Advisory Panel.

Missed opportunity
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Whistleblower Drops Bombshell On Senate

Jeff Morris is blowing the whistle even harder now. The Senate has been informed and anyone who reads Jeff's submission to the Access To Justice Inquiry will learn the truth about the way banks operate. Bank can no longer deny the bleeding obvious. BRN  has cases in front of all the major banks ... and they involve matters exposed by Jeff right here.

Banks lie
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NAB Promises To Play Fair

All four major banks have now committed to becoming Model Litigants. NAB was the last to do so. Acting CEO Phil Chronican who will soon take over as Chairman of the bank's board was in the hot seat at the March 2019 House Economics Committee bank CEO grilling. He made it clear that the bank is committed to acting ethically, morally and fairly when dealing with clients where a dispute exists. This is a critical breakthrough in the quest for justice. Mr Chronican and other bankers have been given cases where the bank's lawyers most certainly did not act as Model Litigants.

Previous CEO Thorburn botched his chance to have the bank do the right thing. The new environment will see legacy cases properly settled and in the future bankers will be less likely to allow abuses to bring in profits.

Previous CEO Thorburn botched the job
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ASIC Wants To Play Fair

ASIC boss James Shipton is talking tough with calls to rebuild trust in the finance sector and for bankers to be fair in their dealings with clients. It shouldn't be so hard. All that is required is for ethical behaviour to become the norm. Bankers need to realise they don't deserve a disproportionate share of their client's and the nation's wealth. The fleecing must stop.

This is Shipton's speech to the AFR Banking and Wealth Summit. There are some choice points made. How serious is ASIC? Their time to prove themselves is pretty close to up.

ASIC's Shipton wants to play fair
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Bankers Are Robbing The Country

Don't let this article slip by - you don't see this exposed in the mainstream media every day. The banks have been allowed by corrupt politicians to steal our wealth and freedoms. Adam Creighton revealed the way it's done before Hayne delivered his limited report. Spread this message far and wide. The system is corrupt and in need of structural reform. Join in with Bank Reform Now to get the job done. Stand - Unite - Make It Right.

Bankkers Creating "money."
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BOQ Exposed

It's not just the big four banks that have been abusing their clients and the law. Second tier operations like Bank Of Queensland got off even lighter than the big banks. Bankers need to look at what even the impaired Royal Commission managed to do to AMP. Michael Sanderson is owed around $2 million after BOQ manipulated valuations to assist its asset stripping sting. Time for the bank to pay up. See story for important information re: valuation abuse; Equality of Arms; Model Litigant guidelines. It's a game changer.

Michael Sanderson wants justice from BOQ
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Thorburn Displays More Than Poor Judgement

It is not just lack of judgement and poor governance in his own office. Rosemary Rogers also worked in Cameron Clyne's office. The real issue is this - if the CEO could not see crimes and misconduct in their own office it is not surprising that they may not have seen criminal cells working in the bank right around the country. We gave Mr Thorburn evidence of these crimes in October last year. He tried to cover it up with a dodgy mediation process ..... he will be looking for work very soon.

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Sham Bank Royal Commission About To Be Exposed

A beaut article summarising the possible findings of the Hayne banking Royal Commission. Well done Karen Maley from the AFR. Well worth a read but check out the BRN kicker at the end. All is not as it seems. For years both major parties allowed crime and corruption to fester in finance. It is time for bold new ideas.

Hayne unlikely to bring about adequate reforms
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Rowena Orr QC Has Been Informed

CBA survivor, warrior and BRN friend Rory O'Brien makes the case ....... for some inexplicable reason the Royal Commission is covering up the CBA / Bankwest heist. BRN says that respect is earned. Judges and politicians do not deserves any respect (or votes) if they protect criminals in the finance sector. The RC and now QC Rowena Orr have been told .... they remain on the hook .... and will remain so until a proper investigation is completed. Read this powerful letter sent to Rowena Orr QC.

The RC must be made longer & stronger. Hayne's February report can be considered an interim report. The final report can wait until two or three independent commissioners conclude a more comprehensive and powerful investigation in one to two years. Sign our petition and we will give it to the Governor General and PM.

The Royal Commission got it wrong on Bankwest
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World Sees Australian Banks Exposed

Aussie bank misconduct revealed by the light-touch Hayne inquiry is still so shocking that politicians, bankers and regulators will never be able to go back to the good old days of rampant fleecing and misbehavior. Great report from Reuters' Byron Kaye.

ANZ's Shayne Elliott leaving the Royal Commission - AAP David Crosling
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NAB Using Ex-Victorian Premier To Compensate Victims

The bank warriors have made their powerful presence felt at another bank AGM - this time at NAB's. Fireworks were seen with shareholders more than angry. Billions have been destroyed by poorly performing bankers who still demand big money for shocking conduct. Craig Caulfield initiated and co-ordinated the warrior's AGM action. He and the other warriors are champs in the battle for justice. Here reporter Joyce Moullakis explains what NAB is trying to do with the help of Jeff Kennett.

Michael, Selwyn & Craig mean business
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NAB's Ken Henry In The Dock

Well, well, well - another great bank warrior ... Rowena Orr QC - has had her hands full today at the Royal Commission. She has been dissecting an insider. Ken Henry made it very clear that he doesn't appreciate being questioned. Rowena Orr was not copping the attitude. Here are some key points from James Thomson.

Ken Henry in the dock with Rowena Orr
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CBA Pressures Customer With A Complaint

Canberra man Neil Hermes reports being intimidated by CBA staff less than three hours after he told them he had submitted evidence of his dealings with the bank to the Royal Commission. The staffer that did that is living in the old days. Banks must change. The ones that don't will be left behind. Neil was a CBA Bankwest victim. The Royal Commission has let him down so far. It must be extended and really sort out the Bankwest scandal.

Neil Hermes upsets CBA with Bankwest complaint
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People Power - Bank AGMs - Round 1

HOT OFF THE PRESS - Craig Caulfield has been battling to get justice from the Commonwealth Bank of Australia (CBA) for nine years. He has just sent us his latest on the first bank - CBA - to feel the power of the people during the AGM phase of the campaign. There are other banking events over the next few weeks. Join in. Here is what Craig had to say -

CBA AGM hears the truth from Bank Warriors
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NAB Banker Guilty

This NAB story is very interesting. Spot the difference - A banker rips off the bank and is quick smart reported to police - pleads guilty in court - and most likely will be jailed. A banker rips off a client .....  well you know how it used to end. But not anymore. We are now in a changed environment. Reforms are brewing that will see bankers heavily fined and jailed ..... and their victims fully compensated. Bankers that do not accept the new reality will be at very high risk of losing their jobs and bonuses .... at best. At worst ..... do not pass go ..... you know exactly where you will be heading. Any banker knowingly covering up serious crimes and misconduct will be held accountable.

NAB's Ferrari-driving banker guilty
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CBA Victims Corner CEO

Selwyn Krepp and Bob Bourne know how ruthless bankers and their lawyers can be. Both victims of CBA - they took the opportunity to meet with CEO Matt Comyn in Canberra .... right after the Economics Committee finished grilling him. BRN suspects Mr Comyn now has a much better understanding of the situation bank victims face. There is not much worse than losing you home, business and job thanks to bank misbehaviour.

Bank victims wait for CBA CEO  Matt Comyn
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ANZ in the dock - Big4 Banks Review

Hansard Transcript - The Treasurer has asked the Standing Committee on Economics to inquire into and report on a Review of Australia's Four Major Banks. This is ANZ's appearance at the fourth review. Members of the BRN team were in attendance to bear witness. The MPs on the committee did a magnificent job. The CEOs were not able to bluff their way out of being accountable. We have saved the transcript here for you.

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Westpac in the dock - Big4 Banks Review

Hansard Transcript - The Treasurer has asked the Standing Committee on Economics to inquire into and report on a Review of Australia's Four Major Banks. This is Westpac's appearance at the fourth review. Members of the BRN team were in attendance to bear witness. The MPs on the committee did a magnificent job. The CEOs were not able to bluff their way out of being accountable. We have saved the transcript here for you.

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CBA In The Dock - Big4 Banks Review

Hansard Transcript - The Treasurer has asked the Standing Committee on Economics to inquire into and report on a Review of Australia's Four Major Banks. This is the Commonwealth Bank of Australia (CBA) appearance at the fourth review. Members of the Bank Reform Now team were in attendance to bear witness.

The MPs on the committee did a magnificent job. The CEOs were not able to bluff their way out of being accountable. We have saved the transcript here for you.

CBA Bank - Meet bank victims
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Frydenberg Sees The Light

Public pressure works. Scott Morrison and Josh Frydenberg have been contacted many times about bank crimes. They both have been given case histories. They know have no chance of winning back public trust unless they extend the Royal Commission. Bankers and regulators must be held accountable and victims must be compensated. It's a no-brainer. Josh Frydenberg must contact Bill Shorten and arrange bipartisan support for an extension .... now.

No chance of an election win until banks are sorted
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Corruption Is Baked Into Banking

Bankers have a well-oiled operation which has enriched and protected them. Henchmen in law, politics and the regulatory system have all played an essential role in enabling corruption in the banking and finance sector.

However - times have now changed. The people are now aware and alarmed. They will no longer tolerate being abused and ripped off by a system which no longer appropriately serves the needs of Australians. Dr Evan Jones shows you the brutal truth right here.

Systemic & Grand Corruption Enables Bad Banking
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Bankers Prosper While We Suffer

John Quiggin nails it - the financial system is fundamentally flawed. It is used as a tool to siphon the wealth of the people and the nation into the hands of the elite. We don't have to wait until the next crash to fix this diabolical mess ........ but we will if people do not find out how they are being screwed and then take appropriate action. First step here in Australia is to extend the powers and duration of the Banking Royal Commission. Sign the petition below. Register for updates on our website and join our Facebook page. Then get ready to help push our politicians to do the right thing. We have an election coming up .... and the pollies know they are facing a wipe out.

Piggy-Bank
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Bank Victims Stories Reaching Parliament

Public pressure on politicians does work. Michelle Matheson was a bank victim ... she is now a bank reform activist kicking goals. Michelle has lobbied politicians, supported other bank victims .... and activists. She has now seen her story told in Parliament House. Speaking out is the only way to educate and motivate others to take effective action. For those willing to stand up and stand firm ... we salute you. To those who support bank victims and the fight for Bank Reform ... we thank you.

Support Bank Victims Extend Royal Commission
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NAB & CBA Committed Crimes

Banking Royal Commission exposes NAB and CBA as  committing criminal acts. There is a pattern here. The banks will soon respond and deny they have engaged in criminal actions. What will Commissioner Hayne do about it? Maybe he could ask for more power and time because what has been exposed so far is no surprise at all This is bread and butter banking. There is a depth of criminality that has not been touched. An extended Royal Commission will see his colleagues in law investigated as well as liquidators and other accomplices in deep banking. It won't be pretty.

Coming soon - the BRN Petition to Extend the Royal Commission. Let your local pollies know - the banking royal commission has only scratched the surface  -  it will be an issue at the Australian Election 2019.

NAB-CBA-Crime-Scene
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Turbocharge Banking Royal Commission

In a move sure to get results Senator Fraser Anning is hosting a media event to show all Australians that the banking Royal Commission needs to be enhanced and extended to do the job required. On Tuesday August 14 2018 bank victims and other concerned citizens are coming to Canberra to support his efforts. On the same day he is likely to make his maiden speech. Bank Reform Now hopes the finance sector and the way it is abusing all of us will be featured.

Not-long-enough-Turnbull
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Matt Comyn - Make The Call

The CBA Box Hill Scandal has made news around the world. Debbie Barker has sent an update to BRN. We think that Matt Comyn has no choice but to call the victims and pay them full compensation. And while he's at it .... how about a genuine apology. Oh ... and Mr Comyn should also call our friend Tony Rigg. Don't you think 30 years is a bit long for Tony to wait? What are you waiting for Matt?

Comyn
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Our Farmers Will Be Heard

This coming round of the Royal Commission will reveal many sad stories and the horrific number of cases showing the ruthless and bad behaviour by bankers in the bush. Senator Williams sums it up very well “The stress on families, the marriage breakdowns, the suicides; there’s been a lot of harsh goings-on by the banks for too long and when it ­involves land, farms and breeding herds that have often been in the family for generations, you never get over (being forced off your land),”

Farmer-Phillott-Vs-Banker-Smith
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Will the Swiss vote for financial justice?

It is slowly dawning on people that a secretive and powerful private banking cartel controlling the world's finance system just might not be in the best interests of the bulk of people living in every country on the planet. The Swiss Vollgeld initiative aims to make the financial system safer by stripping banks of the power to create money. It will in effect turn their liquid deposits into "state" or "sovereign" money. This is a critical step in the reform process. Did you know that Aussies will be given the chance to vote for a very similar proposal in 2019?  It just makes no sense to have bankers exploiting powers that rightly belong to the people via their sovereign governments. This article is essential reading. #OzElection19 will give Aussies the chance to top what the Swiss are attempting. See below for how you can help.

Swiss-vote
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Unconscionable Banking Laid Bare

Have you ever wondered why a bank would default you when you've never missed a payment? Or why the bank would sell your confiscated property for much less than market value? Doesn't make sense to sell it cheap and leave you with a debt that could have been significantly reduced if not paid off in full. Well Natasha Keys spills the beans. From a banker's point of view it all makes perfect sense. It's a very dirty business .... as you will see.

Will-Hayne-drain-the -swamp?
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Landmark ANZ Justice?

ANZ CEO Shayne Elliott is not expecting any surprises at the Royal Commission. He feels that almost every aggrieved customer has been remediated. We'll see about that. There is a big difference between what a bank thinks is justice and what really compensates a ripped off client.

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Legal Parasites In Feeding Frenzy

Bankers flout the law every single day right around the world. The story in South Africa is very much the same everywhere. The only way to get justice for all users of bank services is to put  a stop to the abuses of law that enrich lawyers and bankers. The truth is these characters don't deserve champagne lifestyles ..... that are funded by crimes against their customers ..... and our country. Will the Australian Banking Royal Commission expose the truth? It's headed by a very well paid lawyer ..... time will tell.

Hayne-can't-believe-it
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Protect yourself - storm is coming

With government and banker created bubbles likely to pop ... what can you do to protect yourself? The hard truth is that for three decades Aussies have benefited from pure luck. The Australian economy has grown through a property bubble inflating on top of a mining bubble, built on top of a commodities bubble, driven by a China bubble. Time is just about up. Only genuine reforms can save us .... and it might be too late. Meanwhile some of these tips might help you survive.

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BOQ - Killer Of The Dream

It's not just the Big Four that engage in dodgy dealings. Bank Of Queensland top scores for home loan disputes.

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"The sky is falling" - Aussie banks in a spin over budget bank tax

Bank CEOs will very happily pay this minuscule bank levy .... it it stop a Royal Commission. This article shows how the elite are working against your interests. Lies and threats to scare people. What do you expect bank from CEOs, ratings agencies and market analysts to say? It certainly won't be the truth. The elite want us distracted, confused and frightened. Arguing about Labor or Liberal and this tax or that tax is keeping you right out of the real game. There is an important discussion that needs to be had but it won't happen while you are battling a phony fight in the wrong arena.

Narev-Thorburn-don't-like-levy
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Turnbull's Job At Risk

Turnbull's government could lose a vote in the House of Reps regarding a Royal Commission or Commission of Inquiry into the banks. If he loses the vote he loses the top job and the LNP could be defeated in an election. Turnbull stayed loyal to the banks above his countrymen for just a little bit too long. The lame duck is now a dead duck.

Turnbull-Banker
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Former ALP Qld Premier To Head Bankers' Association

Anna Bligh is now the head of the Australian Bankers’ Association. This tells us all we need to know about how politics works in Australia. Do not expect any politician - particularly one from the big two - to work in your interests .... or even the country's interests. Is there anyone - or any group - that will help drain the swamp in Canberra?

Bligh-ABA-New-Leader
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Farmer putting heat on bankers

"How come a business worth $6.5 million could sell for only $1.55 million? When a bank and liquidator decide to strip a company of value and sell it off in such a way that the borrower loses all equity ... that's how come. In many cases insider mates of bankers, lawyers or receivers buy the property at a bargain price. These are the types of crimes our Prime Minister doesn't care about. There is no excuse. Mr Turnbull .... Bring on a Royal Commission!

Sam-Sciacca
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Extend Australian Royal Commission Banking & Finance

Bank Victims Horror Stories

From Extend RC Parliament Event
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Bank victims, supporters and concerned citizens want to see...
ANZ CEO Shayne Elliott finally admits documents they used...
In the past bankers liked to present themselves as...
How low can a bank go? Setting up a farmer to strip the...

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